Demand side interventions like domestic content requirement under KUSUM and Rooftop Scheme that are being implemented by ministry to supplement the Aatmanirbhar Bharat efforts
Harbouring on the perfect timing to bring together various market players and catalyze cutting-edge PV manufacturing in India, NITI Aayog, Ministry of New & Renewable Energy (MNRE), and Invest India together organized a global symposium ‘India PV Edge 2020’ on Sixth October 2020.
R.K. Singh, Minister for Power (IC), and Minister for New and Renewable Energy (IC) stated that India has largest RE growing capacity in the world. India had promised on sidelines of COP-21 that by 2030, 40 per cent of the country’s energy capacity will be from Non-Fossil Fuel sources.
“We are already at 38.5 per cent and by 2030, 60 per cent of our energy capacity is expected to be from Non-Fossil fuel sources,” said Singh. He further said that India is on our way to achieve its targets of 175 GW of RE capacity by 2022 and 450 GW of RE by 2030.
The participating companies also had the opportunity to hear from the Indian policymakers involved in developing manufacturing schemes. Around 60 prominent Indian and global CEOs attended the event.
Implementing number of supply side interventions
Indu Shekhar Chaturvedi, secretary, Ministry of New & Renewable Energy, Government of India, said that the ministry is implementing a number of supply side interventions including BCD( Basic Customs Duty), Performance Linked Export Scheme and Interest Subvention Scheme to promote domestic manufacturing in RE sector. He also mentioned about demand side interventions like domestic content requirement under KUSUM and Rooftop Scheme that are being implemented by ministry to supplement the Aatmanirbhar Bharat efforts.
Dr. Rajiv Kumar, Vice Chairman, NITI Aayog, highlighted that India has a 31 GW demand from government-sponsored schemes that require locally made solar panels and a large 300 GW target over the next ten years. He urged the PV manufacturing industry to utilize this large demand to invest in state-of-the-art manufacturing lines and collaborate with startups and research institutions to continue to increase the performance of the solar panels and reduce the cost.
“We are convinced that PV technology improvements will exceed general market expectations and will be the key anchor towards reducing the Solar deployment costs. India should innovate in every part of the value chain and strategically collaborate with global innovators to take a generation leap in Solar PV manufacturing. I urge the Indian solar industry and research labs to focus on new technologies like direct wafer manufacturing, Hetero-junction, tandem cells, and biaxial modules” said Amitabh Kant, CEO of NITI Aayog.
