“India majorly imports solar panels. During the initial six months of FY24, India saw a surge in solar module imports, reaching a substantial $1,136.28 million. This surpassed the total PV panel imports for the entire FY23, which amounted to $943.53 million, according to Eninrac Consulting,” said, Devansh Jain, Chair of Renewable Energy Committee, PHDCCI.
The government has set a target of 500 GW of non-fossil energy by 2030 and net-zero carbon emissions by 2070. 2023 saw a flurry of policy activity, laying the groundwork for faster growth. Structured annual auctions for 50 GW of renewable capacity, a clear roadmap for achieving Renewable Purchase Obligations (RPOs), and streamlined pricing through a Uniform Renewable Energy Tariff are just some of the initiatives propelling the sector forward, according to InvestIndia.gov report.
As of November 2023, the…
