National Solar Federation calls for GST council-like body to boost India’s renewable energy goals

National Solar FederationNational Solar Federation: The CEO of the National Solar Energy Federation of India has pushed for the establishment of a national Electricity Council, akin to the GST Council, in a move that could simplify India’s renewable energy policies. He suggests that this proposal will improve the ease of doing business in the renewable energy sector by addressing the policy disparities amongst states.

In an interview with ET Energyworld, he emphasized how important such a council is. “A national-level Electricity Council, akin to the GST Council, is essential to bring about uniformity in energy policies across states and ease the business process,” he said.

Read also: GST Council may consider raising GST registration limit from Rs 40 lakh to Rs 60 lakh

Speaking about India’s goals for renewable energy, he pointed out that the nation is on course to reach a noteworthy capacity addition milestone. “India is expected to move closer to the annual target of 20 GW by adding between 8 and 10 GW of renewable capacity in the last quarter of the current financial year,” he stated. This development coincides with the approaching March deadline for the extension of the Approved List of Models and Manufacturers (ALMM).

He also mentioned how this growth is being facilitated by favorable market conditions. “We are witnessing a historic low in module prices, and the state of the supply chain is strong right now. In the CNA Open Access market, this has resulted in a rise in the volume of B2B transactions, he said. By the end of FY24, he predicts that India could add 16–18 GW of renewable capacity based on these factors.

He predicted that starting in December of the following fiscal year, the addition of renewable energy capacity would accelerate. The production of modules under the second tranche of the Production Linked Incentive (PLI) scheme for high-efficiency solar PV modules is anticipated to support this increase domestically.

Read also: J&K Administrative Council to launch Amnesty scheme to resolve Tax Arrears from Pre-GST Era

Detailing the government’s plans under the PLI scheme, he mentioned, “The government’s projections are for manufacturing capacities of 7,400 MW by October 2024, 16,800 MW by April 2025, and 15,400 MW by April 2026.” He added, “We anticipate the first tranche of PLI orders by the end of December this year, which is expected to significantly boost the supply of domestic modules in the market by the last quarter of FY25.”

Additionally, he disclosed that about 68 GW of solar projects with a capacity of around are in the works for the next 20 months, and an additional 82 GW is scheduled for the next three years.

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