Investments worth $7.2 billion will be needed over the next three to four years to promote integrated solar module manufacturing in India, according to a report on Thursday.
The push to improve local manufacturing could help domestic module makers generate $30 billion (Rs 2.3 lakh crore) in revenue by 2030 from the sale of 150 GW at Rs 15/Wp (Watt peak) and to generate employment opportunities for approximately 41,000 workers, according to the report published by the CEEW Center for Energy Finance (CEEW-CEF).
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“India’s push to indigenize the solar manufacturing value chain would require capital investments worth $7.2 billion (Rs 53,773 crore) over the next three to four years,” did he declare. Rishabh Jain, program manager at CEEW, said solar energy is the cornerstone of India’s goal of establishing 500 GW (GigaWatt) of non-fossil capacity by 2030 and a net zero to zero ambition. long term.
He noted that the ongoing geopolitical and energy crises highlight the importance of reducing import dependency and developing a reliable and robust domestic supply chain for industries critical to the energy transition.
To promote domestic solar manufacturing, the government has already announced several measures in the fiscal year 2021-22, including the allocation of USD 3.2 billion (Rs 24,000 crore) through the Tied Incentives Scheme. to the production and collection of a basic customs duty of 25% and 40% on all imports of solar cells and modules, respectively.
(Edited by : Anand Singha)