+
India’s Solar Imports Could Surge
POWER & RENEWABLE ENERGY

India’s Solar Imports Could Surge

India’s ambition to meet its 2030 renewable energy targets could result in a significant surge in solar equipment imports, potentially reaching $30 billion per year, according to a report by the Global Trade Research Initiative (GTRI). As India ramps up its efforts to expand solar energy capacity, the country may become heavily reliant on imported solar panels, cells, and related components to meet the growing demand for renewable energy infrastructure.

The report highlights that while India aims to become a global leader in renewable energy, domestic production of solar equipment has not kept pace with its ambitious targets. The increasing need to meet energy demand through green alternatives, coupled with rising investments in solar power projects, is expected to drive up imports of solar technology from countries such as China, Vietnam, and Malaysia, where production costs are lower.

India’s government has set a target of achieving 450 GW of renewable energy capacity by 2030, with solar power expected to play a crucial role. However, the domestic solar manufacturing industry currently lacks the scale and capacity required to meet the country’s growing energy needs, leading to a reliance on imports. This situation could present challenges for India’s goal of self-reliance in the renewable energy sector.

The increase in solar imports also raises concerns about trade imbalances and the potential impact on India's local manufacturing ecosystem. Policymakers may need to implement supportive measures, such as incentivizing local manufacturing and improving supply chain efficiency, to reduce the dependence on imports and foster the growth of the domestic solar industry.

As India continues its journey toward meeting its renewable energy goals, the balance between expanding solar capacity and fostering homegrown solar manufacturing will be key to ensuring sustainable and long-term energy security. The projected $30 billion annual import figure underscores the urgency of addressing this challenge while accelerating the transition to clean energy sources.

India’s ambition to meet its 2030 renewable energy targets could result in a significant surge in solar equipment imports, potentially reaching $30 billion per year, according to a report by the Global Trade Research Initiative (GTRI). As India ramps up its efforts to expand solar energy capacity, the country may become heavily reliant on imported solar panels, cells, and related components to meet the growing demand for renewable energy infrastructure. The report highlights that while India aims to become a global leader in renewable energy, domestic production of solar equipment has not kept pace with its ambitious targets. The increasing need to meet energy demand through green alternatives, coupled with rising investments in solar power projects, is expected to drive up imports of solar technology from countries such as China, Vietnam, and Malaysia, where production costs are lower. India’s government has set a target of achieving 450 GW of renewable energy capacity by 2030, with solar power expected to play a crucial role. However, the domestic solar manufacturing industry currently lacks the scale and capacity required to meet the country’s growing energy needs, leading to a reliance on imports. This situation could present challenges for India’s goal of self-reliance in the renewable energy sector. The increase in solar imports also raises concerns about trade imbalances and the potential impact on India's local manufacturing ecosystem. Policymakers may need to implement supportive measures, such as incentivizing local manufacturing and improving supply chain efficiency, to reduce the dependence on imports and foster the growth of the domestic solar industry. As India continues its journey toward meeting its renewable energy goals, the balance between expanding solar capacity and fostering homegrown solar manufacturing will be key to ensuring sustainable and long-term energy security. The projected $30 billion annual import figure underscores the urgency of addressing this challenge while accelerating the transition to clean energy sources.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?