Solar capacity will remain a key focus of the Indian government’s spending this year, but some existing challenges for the industry could still hamper growth, according to experts.
Solar PV and solar-wind hybrid project bids in various Indian government schemes which were finalised by before 9 March 2021 but not yet complete have had their deadlines extended to March 2024.
As reports come in predicting stunted growth for Indian solar in 2023, PV Tech Premium spoke to Vinay Rustagi, managing director of Bridge To India, about the obstacles facing the sector in the next year and the prospect of light at the end of the tunnel.
PV manufacturer Goldi Solar is planning to participate in India’s expanded production-linked incentive (PLI) programme as it bids to ramp up its module and cell production to 6GW and 5GW, respectively, by the end of 2025.
Imports of solar modules in India decreased by 64% in Q3 2022 compared with the prior quarter whilst cell imports increased by the same amount, according to consultancy JMK Research.
Indian solar importers will no longer be permitted to defer payment of the country’s basic customs duty (BCD) following a new order from tax authorities.
PV module prices in India have increased by ~38% in the last 20 months, in part due to supply chain disruptions and rising solar demand, with prices not expected to fall until the end of next year.
India is set to fall well short of its 2022 solar target of 100GW of installed solar capacity due to the slow uptake of rooftop solar, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research.
Concerns have been raised that some solar plants under development in India could be put on hold due to upcoming tariffs threatening their economic viability.
India must scale up investment in the large-scale domestic manufacture of upstream PV products to avoid the risk of logistics and commodity price fluctuations posed by its current high levels of solar imports, new research has suggested.
