Soaring Solar Panel Exports Reflect Global Market Expansion

The country's export of photovoltaic modules soared by 30.7% to USD 932 million from April to October, driven by demand in the US and new markets like the UAE and Kenya. This increase marks significant steps toward market diversification and increased solar adoption worldwide.

The country's export of photovoltaic modules has seen a remarkable growth of 30.7%, reaching USD 932 million within the April-October period of this fiscal year, as indicated by the commerce ministry data.

In the corresponding period of 2024-25, the export value was USD 712.8 million. The United States spearheaded this growth, with exports climbing from USD 688 million to USD 907.2 million during the period.

An official highlighted the role of emerging markets in this expansion, citing new destinations such as the UAE, Kenya, and others aiding diversification. Exports to the UAE surged from USD 0.2 million to USD 2.4 million, while Kenya saw an increase from negligible to USD 1.5 million.