Gurugram, October 2025 — Firstgreen Consulting Pvt. Ltd. is proud to release of its latest solar market research report, “When Cheap Becomes Too Cheap: The Solar Glut and the Great Manufacturer Shake-Out.”
This in-depth report examines the unprecedented transformation of the global solar industry—where module prices have fallen by over 70% since 2016, triggering record annual installations exceeding 1.8 TW worldwide. While solar energy has become the cheapest form of power generation across most markets, this price collapse has also unleashed a wave of manufacturer bankruptcies, margin erosion, and consolidation, reshaping the global value chain.
The report reveals how China now commands over 92% of global module production capacity, creating a deflationary loop that has devastated competitors in Europe and the U.S. At the same time, India’s domestic solar manufacturing ecosystem has demonstrated remarkable resilience, driven by PLI incentives, ALMM frameworks, and BCD tariffs that have fostered a viable, integrated, and profitable industry.
Featuring data from IEA Renewables 2025, financial disclosures, and Firstgreen’s proprietary market analytics, this study provides a clear-eyed view of the new solar economy—defined by abundance, deflation, and disruption.