 "Budget 2023-24 wishlist: Here're key challenges in renewable energy sector")
Key challenges
Industry ask
- India missed the 175-Gw green energy target by the end of 2022 by 55 Gw as due to slow progress in project development
- Solar rooftop saw limited growth due to lack of growth in key green energy tech sectors
- Concentrated supply chains in China for a number of facets resulting in increased prices for key raw material, components
- High interest rates in India results in costlier green power, affecting overall commercial viability and cost parity with fossil fuel power
- There is limited access to financing for renewable energy manufacturing
Industry ask
- Production-linked incentive scheme in critical sectors
- Reduction in goods and services tax rates and duties
- Specific impetus for select Sectors
- Lowering interest rate for green energy
- Regulatory mandates
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