India To Spike Up Import Duty On Solar Power Equipment In Few Years

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  • Power minister assured that the rise in import duty will not impact solar energy bidding process in India
  • A storage policy will be unveiled soon which would provide tax incentives, especially for solar equipment manufacturing in India

India will increase import duty on solar equipment to encourage domestic industry in the coming years, Power Minister R K Singh said on Thursday. He also announced that a storage policy will be unveiled soon which would provide tax incentives, especially for solar equipment manufacturing in India, reported PTI.

The minister opined that currently safeguard duty is imposed on solar equipment which will be diluted in a few years. According to him, India will increase tariff on solar equipment down the value chain in the coming years. He assured that the rise in import duty will not impact solar energy bidding process in India.

Developments in the other front
On Jammu and Kashmir, he said to PTI that the ministry will utilise all of India’s share of water to develop hydro projects in Ladakh. Also, he expressed the ministry’s desire to push solar projects in Ladakh.
 

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Recently, Andhra Pradesh discom had demanded to lower of tariff on some renewable energy projects. On this issue, Singh commented that Power Purchase Agreements are secured and that no concluded agreement can be tampered. Also, the Solar Energy Corporation of India (SECI) and NTPC has refused to lower tariff of green energy. 

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