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Budget 2023-24 wishlist: Here're key challenges in renewable energy sector

India missed the 175-Gw green energy target by the end of 2022 by 55 Gw as due to slow progress in project development

Renewable energy, green, clean, solar power
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Business Standard
Key challenges
  • 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