Polycab heading to RE goals with solar inverters

The company is gearing up to launch microinverters ranging from 1 kW to 5 kW, as well as hybrid inverters for residential applications.

The renewable energy industry is full of opportunities. The Indian government has set a clear vision and companies that align with this mission will thrive. Polycab has been a trusted name in the Indian market for over 50 years primarily known for its dominance in wires and cables. The firm is continuously expanding and innovating to support these goals. Nikunj Mathur tells us more about Polycab journey and expansion into the renewable energy sector.

Given India’s renewable energy targets, how has Polycab contributed to the growth of the sector?

Polycab has been the leading manufacturer of wires and cables in India and among the top ten global players in the industry. While our legacy is in wires and cables, we recognised the potential in the renewable energy sector early. In 2015, when the government emphasised solar energy as a national priority, we ventured into the solar vertical. We began with on-grid inverters and, to date, have supplied nearly 5 gigawatts (GW) of inverters across India, contributing to the country’s ambitious renewable energy goals.

Initially, India set a target of 40 GW of solar power, which was later increased to 100 GW. As of this year, we are set to achieve that milestone, and the goal has now been extended to 250 GW. Polycab has played a crucial role by supplying 5 GW of inverters. Besides inverters, our dominance in the wires and cables segment ensures efficient power transmission. Recently, we have also entered the solar panel manufacturing space, offering monocrystalline and bifacial panels. By next year, we plan to launch high-efficiency panels rated at 600W peak power.

What are some of the latest products you have introduced in this space?

We started with on-grid inverters in 2015, then expanded into solar panels. Now, we are gearing up to launch microinverters ranging from 1 kW to 5 kW, as well as hybrid inverters for residential applications. Until last year, policy restrictions limited installations to string inverters, but recent government notifications have allowed hybrid inverters, making them a viable option in areas with power scarcity. By next month, we will introduce hybrid inverters from 2 kW to 50 kW.

Additionally, we are expanding into the electric vehicle (EV) segment with EV chargers and we are also developing battery energy storage systems to complement our solar solutions.

How does Polycab’s sustainable energy expansion align with self-sufficiency vision of India and what benefits does it bring to customers and industry?

Sustainability is the need of the hour, and we believe in contributing to India’s energy independence. Since 2014, the government has pushed for domestic manufacturing to reduce dependence on coal and imported energy products. Polycab has embraced this initiative by manufacturing not only cables and inverters locally but also solar panels and EV chargers. This approach ensures job creation, cost efficiency, and reduced reliance on Chinese imports.

In the early days of the Indian solar market, Chinese products dominated. However, ‘Make in India’ policies have encouraged local production. As an Indian company, Polycab has invested in local manufacturing to ensure high-quality, reliable products. This benefits customers by providing them with cost-effective and durable solutions while supporting the Indian economy.

Additionally, Polycab is now looking at global markets. Initially, we were a key supplier of cables and wires internationally, but we have now expanded our global footprint with solar panels and inverters. The future is bright, and we are excited to continue innovating and growing.

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