With climate change and energy security at the forefront of global concerns, the government has unveiled a series of policy measures and incentives designed to accelerate the adoption of solar power.
Finance minister Nirmala Sitharaman has submitted Union Budget 2025-26, which proposes customs duty exemption for waste and scrap of lithium-ion batteries and critical minerals.
Regulatory and fiscal incentives to set up specialized labs in collaboration with leading international and domestic research institutions, reduction of Goods and Services Tax (GST) on turbines and solar modules, and ISTS charges waiver extension are on the budget wishlist of the renewable energy industry in India.
With the Union Budget 2025-26 approaching, the solar industry anticipates key policy and financial measures to sustain this momentum. The budget is expected to increase funding for green technologies, including solar, wind, and green hydrogen.
The PM Surya Ghar: Muft Bijli Yojana, the world’s largest domestic rooftop solar initiative, aims at powering 10 million households with solar power by March 2027.
Grew Energy has announced focused divisions for solar PV module and cell manufacturing, and engineering, procurement, and construction projects.
After a record 37 GW of new solar added in 2024, the Energy Information Administration expects 26 GW in 2025 – and even less in 2026.
Solis has launched its Solarator series hybrid inverters for residential and commercial solar storage applications in India. The inverters are generator-compatible.
Gujarat’s commitment to balancing industrial growth with environmental sustainability is a model for other states to follow. By harnessing solar energy, advancing green hydrogen production, and promoting energy storage technologies, the state is building a robust framework for a sustainable future.
Wood Mackenzie’s latest report forecasts that 493 GW (DC) of solar will be added throughout the world this year, compared to 495 GW in 2024. Solar module prices are expected to rise this year as manufacturers aim to recover profit losses from the past two years.
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