Market Response

This was a deep dive go-to- market study to evaluate the solar panel manufacturing market in India. The prime objective of the study is to examine the business potential for the client to set up solar panel manufacturing facility in Chhattisgarh.

What was the study about?

Examine solar panel manufacturing business in India

The client wishes to examine the attractiveness of solar panel manufacturing business in India and is looking to explore the possibility of establishing a manufacturing unit in the state of Chhattisgarh. The client wishes to learn about the demand pockets and direct off takers of the manufactured solar panels. Furthermore, the client wishes to learn about the progressive business models most suited to go with and the respective modalities with cost economics.

Focus areas of the study

Understanding Chhattisgarh's attractiveness as a potential manufacturing location

Examine the investment potential of Chhattisgarh for setting solar panel manufacturing units w.r.t. diligence parameters (non exhaustive) like- availability of land parcel, electricity rates , connectivity through road, air & airways, proximity to NH, availability of skilled manpower, opportunity to scale business operations, state govt. incentives & tax holidays etc. Additionally, client also wishes to understand the product specifications w.r.t. the current demand & outlook in order to gauge the sustainability of manufacturing unit for a longer term.

Eninrac’s approach for the study

To cater to the client’s requirements, the study was broadly classified into four phases

The scope was broadly classified under four phases –

• Phase I: Understanding the solar panel manufacturing market in India & demand –supply dynamics.
  
• Phase II: Market size assessment and raw material sourcing for solar panel manufacturing in India.
  
• Phase III: Attractiveness index of Chhattisgarh as manufacturing location & details of PLI.
  
• Phase IV: GTM strategy formulation.

Eninrac’s recommendations

Key prepositions & recommendations suggested by Eninrac to the client

• Develop a holistic understanding of the market potential of solar panel manufacturing vis-a-vis current demand and outlook, supply dynamics and its outlook (imports substitution & MII), demand –supply gap built up for solar panels in order to discover market size coherent for an OEM, competition structure, evaluation of ease of doing business as solar OEM with entry barriers examination, understanding raw material sourcing for panel manufacturer and costs involved thereof etc.
  
• Envisioning mid-term & long –term business goals of client, the opportunity examination shall also extensively cover assessment of demand pockets & supply dynamics of solar panels in the geographic locations/states in the vicinity to Chhattisgarh.