RENEWABLE ENERGY

Implementation of basic customs duty and its impact on the solar industry

The ongoing pandemic has a rippling effect across the world with businesses facing the maximum heat of the situation. With lockdown in place, units were forced to shut operations and demand for modules hit a low, resulting in a struggle for survival among the manufacturers.

Though there has been growing conversations around the transition to renewable energy or adoption of clean energy, the recent pandemic has had an adverse effect on the sector like any other. This has also put India’s potential to achieve the ambitious RE target of 175GW by 2022 in question. One of the major roadblocks in India’s adoption to clean energy is making distribution companies profitable, ease of business/ installation or putting solar plants either on the ground or on the roof.

Due to decreased demands and exports out of question, the Indian solar module manufacturers have been facing a tough time sustaining themselves.

Source
CNBC
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