Policy & Pricing

The rules and prices that move the sector — schemes & incentives, flagship-scheme progress, the localisation roadmap, the BESS cost curve, and manufacturing TAM.

As of 31 Mar 2026

Policy snapshot

The incentive toolkit at a glance.

Active schemes

policy toolkit

Medium

PM Surya Ghar progress

30%

installed ÷ target

Medium

PLI capacity supported

48.3GW

₹24,000 cr outlay

Medium

BCD on modules

40%

cells 27.5%

High

Green-H₂ target

5MT/yr

by 2030

Medium

Manufacturing TAM (FY35)

₹4.5L cr

all segments

Medium

Schemes & incentives

The policy toolkit across manufacturing, demand and consumers.

Scheme & incentive tracker

Manufacturing · demand · consumer policy

Scheme	Category	Target / scope	Status	Allocation	Key metric	Conf.
ALMM List-I	Manufacturing	Modules (active 2021)	Active	—	~145 GW enlisted	High
ALMM List-II	Manufacturing	Cells (Jun 2026)	Effective	—	~30 GW enlisted	High
ALMM List-III	Manufacturing	Wafers (Jun 2028)	Announced	—	trigger >15 GW	Medium
BCD	Trade	40% modules / 27.5% cells	Active	—	protects domestic mfg	High
PLI (Solar PV)	Manufacturing	48.3 GW supported	Active	₹24,000 cr	36.5% established	Medium
DCR	Demand	Domestic content (govt schemes)	Active	—	~11 GW KUSUM DCR	Medium
PM Surya Ghar	Rooftop	1 Cr households	Active	₹75,021 cr	~30L installed; 11.5 GW pipeline	Medium
PM-KUSUM	Agri	~35 GW	Active	—	~14 GW executed	Medium
RPO / RGO	Demand	Trajectory to 2030	Active	—	rising RGO	Medium
ISTS Waiver	Demand	Transmission-charge waiver	Active	—	extended for RE	Medium
National Green H2 Mission	Demand	5 MT/yr by 2030	Active	₹19,744 cr	~20 GW solar per MT	Medium
CPSU	Demand	SECI/NTPC procurement	Active	—	manufacturing-linked	Medium

Source MNRE / CBIC / VQ Research· As of 31 Mar 2026

5-tool localisation toolkit: ALMM · BCD · PLI · DCR · CPSU — together they de-risk domestic manufacturing demand.

Flagship schemes

PM Surya Ghar (rooftop) and PM-KUSUM (agri).

Installations

30L

Medium

Target

1Cr

High

Application pipeline

11.5GW

Medium

FY27 allocation

22,000₹ cr

Medium

Pending applications

40L

Modelled

PM Surya Ghar progress

Installed vs 1 Cr target · ~30%

Source MNRE· As of 31 Mar 2026Medium

PM-KUSUM — executed vs target

GW by component

Source MNRE· As of 31 Mar 2026Medium

Manufacturing roadmap

ALMM rollout and the 4-wave localisation path.

ALMM-IHigh

Modules

Apr 2021Active

ALMM-IIHigh

Cells

Jun 2026Effective Jun 2026

ALMM-IIIMedium

Wafers

Jun 2028Announced

Wave 12020–25

Modules & BOS

Wave 22025–30

Cells & BESS

Wave 32028–33

Wafers / Ingots / Transformers

Wave 42031–36

Polysilicon / Electrolyser / Green-H2

Pricing & economics

BESS cost decline and value-chain prices.

BESS pack cost curve

$/kWh · ~90% decline since 2014

Source VQ Research / BNEF· As of 31 Mar 2026Medium

Polysilicon

$0.06/Wp

spot proxy

Modelled

Wafer

$0.03/Wp

Modelled

Cell

$0.10/Wp

Medium

Module

$0.18/Wp

Modelled

Solar + BESS LCOE ₹5.06/kWh ($56/MWh) — approaching new-coal tariffs, making round-the-clock RE competitive.

Manufacturing TAM

Total addressable market by segment, ₹'000 cr.

Manufacturing TAM by segment

₹'000 cr · stacked · FY25 → FY35

Source VQ Research· As of 31 Mar 2026Medium