Hybrid Inverters Need More Perks For Higher Adoption: Anurag Agarwal (Polycab)

Indian energy solutions company Polycab has said that pro-storage government policies and subsidies can significantly boost the adoption of hybrid inverters in the country. In an interaction with Saur Energy, Anurag Agarwal, CEO of Polycab India, noted that stronger hand-holding support from the government could accelerate demand.

“Government support is crucial for the adoption of new technologies and their sustainability in the market. If the government mandates the use of Battery Energy Storage Systems (BESS) in solar projects, we will certainly see higher adoption of technologies like hybrid rooftop solar connections,” Agarwal said, adding that Polycab has already launched hybrid inverters for the Indian market and expects strong offtake.

Govt Schemes & Solar Adoption 

He also highlighted the direct linkage between government schemes and the adoption of solar technologies. “Earlier, solar water heaters vanished from the market once subsidies were withdrawn. This shows the strong dependence of solar products on government schemes,” he said.

Agarwal noted that the company currently enjoys around 20% market share in the residential and Commercial & Industrial (C&I) inverter segments. “We are now among the top three inverter companies in India and plan to reach the top slot soon,” he said, adding that its largest inverter of 350 kW is now catering to the utility-scale solar market as well.

Polycab's Solar Portfolio

He added that Polycab’s portfolio spans solar cables, inverters, modules and solar boxes, with new solar kits in the 3–10 kW range set for launch. “We cover the entire spectrum—residential, C&I and utility. We aim to become No. 1 in the next few years,” he said.

On battery technology, Agarwal expressed concern that India continues to rely on imports for battery cells due to the absence of domestic cell manufacturing lines. He noted that although several major players are expected to enter the lithium-ion space, the industry still depends heavily on battery packs. “Lead-acid will not work for long. New cell chemistries are emerging, and ultimately cost will determine adoption,” he said.

Polycab is also evaluating entry into the microinverter segment. “We have not taken a final call; we will decide after studying the market,” Agarwal noted.

The CEO further added that Polycab is preparing to bring inverter manufacturing fully in-house. “In the next two years, we hope to manufacture most inverter products in India and set an example,” he said.