Realizing solar energy is a huge promise for India, Finance Minister Nirmala Sitharaman said in her budget speech that “To build domestic capacity, we notified a phased construction plan for solar cells and solar panels. do”.

 

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Although Union Finance Minister Nirmala Sitharaman has not yet mentioned any restrictions on any imports on solar cells and modules to boost domestic manufacturing, The Ministry of New and Renewable Energy (MNRE) levying Basic Customs Duty (BCD) on such items Does not deny. Indu Shekhar Chaturvedi, who is the secretary of MNRE, while addressing the media for the budget-linked renewable sector, said “there is no way we can conclude that there will not be a Basic Customs Duty”.

Solar power is a huge promise for India, yet it still accounts for about 50% of the country’s 11 GW domestic solar panel capacity and the other 3 GW of cell manufacturing is unusable.

A senior MNRE official said that “a phased construction plan is a type of policy that encompasses everything, including the BCD”, adding that “we are waiting for some clarification from the Department of Revenue and we hope to have one or two Will be received in a day.”

Due to cheaper rates of imported modules, solar capacity addition is imported through products, especially from China, and domestic panel makers expect cheaper imports.

Due to cheap imported models, which mostly came from China, the increasing requirements of solar were met by imported products. And now more domestic panel makers expect new import restrictions to boost the industry.

Due to the Coid-19 restrictions, solar imports in April-November 2020 were down 80% to 2,100 MW ( $ 277 million) compared to 2019. However, the pace of solar capacity addition declined in April-November, which was 52% annually. The Center imposed a 25% security duty on solar imports from China and Malaysia for two years in July 2018, which was extended to July 2021 at a 15% rate.

Explaining the proposed “National Hydrogen Energy Mission” pitched by Sitharaman in her budget speech, MNRE scientist PC Maithani said that the mission would put forward specific short-term strategy and broad long-term principles to develop India into a global hydrogen manufacturing hub and fuel cells technologies across the value chain.

 

Resource Financial Express

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