He said that the country has a clear road map on the part of demand visibility
New Delhi: Solar energy will contribute almost 300 gigawatt (GW) to the 450 GW of renewable energy target that India aims to achieve by 2030, said Amitesh Sinha, joint secretary, Ministry of New and Renewable Energy on Wednesday.
He said that the country has a clear road map on the part of demand visibility.
“India needs to add about 25 GW of solar energy capacities every year… Apart from this, we are also moving towards a green hydrogen ecosystem,” he said at a virtual event organised by industry body, the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Sinha also said that the government was now focusing its attention on how manufacturing equipment can be supplied and how India can become self reliant in this sector.
“The earlier efforts were not encouraging to the solar equipment manufacturers. Now, with the government deciding to impose 40 per cent basic customs duty on solar modules and 25 per cent on solar cells from 1 April 2022, imports would become more expensive and local manufacturing would be encouraged,” he added.
The 450 GW of renewable energy target that the central government has aimed to achieve by the year 2030, almost two-third of the same would come from solar energy stated the honorable,
Bhagwant Khuba, Minister of State for renewable energy, said that almost two-third of the 450 GW target will come from solar, which was a huge opportunity for businesses to tap the sector for the next nine years.
“India, till recently, was only importing the solar power manufacturing equipment to generate solar power, however, a lot has changed since then,” said Khuba.
Vineet Agarwal, managing director of TCI and president, ASSOCHAM said that indigenous manufacturing of the equipment will reduce the recurring forex outgo by $2.5 billion to $5 billion per annum to meet the projected demand of 450 GW by 2030.
He added that it would create 50,000 direct and 1.25 lakh indirect jobs, along with opportunities for MSME’s in the associated supply chain.
Source By: www.energy.economictimes.indiatimes.com