India Approves $602 Million Solar Mounting System Incentive Plan, Hoping To Reduce Its Dependence On Solar Technology Imports_Chiko Solar Mounting System | Mounting Factory Shanghai China

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India Approves $602 Million Solar Mounting System Incentive Plan, Hoping To Reduce Its Dependence On Solar Technology Imports

Data:2021-04-16

Last Wednesday (April 7), Indian Prime Minister Narendra Modi approved the proposal of the Ministry of New and Renewable Energy (PLI) plan and formulated a plan to spend 45 billion Indian rupees (602 million US dollars) in the next five years. This reduces India’s reliance on imports of solar technology and promotes the country’s new power generation target of 10GW. This is a huge development opportunity and challenge for solar mounting structure manufacturers like CHIKO Solar!

India Approves $602 Million Solar Mounting System Incentive Plan, Hoping To Reduce Its Dependence On Solar Technology Imports

It is understood that the Indian government approved the production-related incentive measures (PLI) for the country’s solar bracket manufacturing industry last month. The Indian government announced that it will impose a basic tariff of 40% on solar mounting systems from April 2022, and from the same day Begin to impose an additional 25% tariff on solar cells. The US$602 million incentive plan is part of India’s latest plan to expand domestic production.

Modi said on Twitter that as India recovers from the impact of COVID-19 restrictions on the deployment of new projects, the plan will make India a "renewable energy hub."

According to the latest data released by JMK, India only deployed 2.6GW of utility-scale solar energy last year. Although it believes that 2021 will be a "milestone year" for the Indian solar industry, it is expected that by the end of the year, the increase in the scale of public utilities will only be 9.7GW, and India Bridge claims that it can add 13.5GW of solar capacity this year. However, in accordance with the Indian government's goal of reaching 280GW of solar energy by 2030, 25GW of solar energy will need to be added every year in the next nine years, and the current installed capacity is still far from enough.

According to observations, the solar mounting bracket system is not attractive to consumers due to the time-consuming and complicated installation process and the delay in subsidy issuance.

The government said in a statement that due to limitations in the operational capacity of India’s domestic solar manufacturing industry, the current capacity of India’s solar cells and solar brackets is still mainly dependent on imports.

The new plan is called the "High-efficiency Solar Mounting National Plan" and aims to reduce the industry's dependence on imports through a "transparent bidding process." PLI funds will be paid to selected manufacturers within five years after the solar power plant is put into use for the commissioning of photovoltaic production facilities.

The plan is expected to add 10 GW of installed solar capacity in the next few years, promote direct investment of 17.2 billion rupees (approximately US$230 million) in manufacturing projects, create 30,000 jobs and a wider employment network of about 120,000 workers. And promote the research and development of more efficient solar racking.

As part of the PLI plan first announced last fall, 181 billion rupees (US$2.42 billion) were also allocated to support the production of advanced chemical batteries (ACC) and to support domestic and international companies that wish to establish business in India.

In recent months, some solar companies have claimed plans to establish operations in India, including inverter supplier Sungrow, which plans to triple its local production facilities to reach an annual output of 10GW in 2021. Tata Solar also announced this week that it has expanded its photovoltaic manufacturing plant in Bangalore, bringing its total production capacity to 1.1GW.

However, a recent report by the International Energy Agency (IEA) warned that India may need US$1.4 trillion in additional clean energy technology funding to embark on a “sustainable development path” in the next 20 years, which is higher than the current Indian government’s It is expected to be 70% higher.

Regardless of the size of India’s plan, the size of the cowhide and the amount of moisture, it is, at any rate, a big pie for China in the global photovoltaic industry and the expectations that the government has brought to Indian photovoltaic manufacturing, even if in the end, India’s consistent style "normally failed to materialize". After a few discounts, the industry still has expectations. Therefore, some reports believe that India is likely to become the fourth major photovoltaic market after China, the United States, and Europe in 2021. The new installed capacity is expected to exceed 10GW, and India’s new photovoltaic capacity may even reach a new high in 2022.

CHIKO solar more efficient and flexible solar mounting system solution waiting for you here! Contact Us !

Above news from CHIKO Sales & Marketing department
Add: No 680 Xingwen Rd. Jiading dist. Shanghai 201801 China Email: Chiko@Chikolar.com
Website: http://www.chikolar.com Fax : +86 (21)59972938
Phone: +86(21) 59972267 59973712 59973713--811

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