India, the largest buyer of solar equipment from neighboring China, is considering a 7.5 percent tax on imported solar panels, according to government officials with knowledge of the situation.
Such imports aren’t taxed now, but might be reclassified as motors, which are subject to the tariff, the officials said, asking not to be named until a final decision was taken. The finance ministry is considering the renewable-energy ministry’s request to tax panels imported for projects won under future solar auctions while exempting those already awarded, they said.
The proposed change could imperil Prime Minister Narendra Modi’s ambitious goal of installing 100 gigawatts of solar energy by 2022, especially as developers have relied on low-cost equipment from China to push tariffs to among the lowest in the world. The South Asian nation bought a third of China’s $8 billion of shipments from January through September, according to BNEF research. Read More…
Latest posts by ET Energy World (see all)
- Govt signs long-term contract with Uzbekistan for uranium - January 18, 2019
- New scheme on electric vehicles can be expected within a month: Union Minister - January 18, 2019
- OPINION: Worries for LNG as prices slip amid record North Asia imports - January 17, 2019