Empowering Solar: India's Bold Steps Towards Renewable Energy Dominance
Key Ideas
  • Increased funding of INR 10,000 crore for solar projects to attract private investment and boost investor confidence.
  • Extension of the Production-Linked Incentive (PLI) scheme with INR 24,000 crore outlay to promote domestic solar panel manufacturing and create employment.
  • Reduction of customs duties on critical components and raw materials to lower overall project costs and enhance competitiveness with traditional energy sources.
  • Introduction of schemes like Surya Ghar Yojana 2.0 for rooftop solar installations and focus on green hydrogen projects to strengthen the synergy between solar and hydrogen sectors.
India's Union Budget 2025 highlights a significant push towards the solar energy sector to achieve 500 GW of renewable energy capacity by 2030. The budget includes various measures such as increased funding of INR 10,000 crore for solar infrastructure, extension of the PLI scheme, reduction of customs duties on essential components, focus on rooftop solar systems, and allocation of INR 2,000 crore for green hydrogen projects. Additionally, emphasis on R&D, streamlining approval processes, tax benefits, solar waste management policy, and strengthening grid infrastructure are key components of the budget. These initiatives aim to drive innovation, create employment, reduce costs, promote energy self-sufficiency, and ensure sustainable growth in the solar industry. The budget signifies a solid commitment towards transitioning to clean energy and sets the stage for a brighter and more sustainable future for India's energy landscape.
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