{"id":"f-91677779fp1-a7f9b937-cdc6-59d9-909e-bac3467ec4d5","title":"Solar Energy Boost: India's Budget Wish List","description":"The Indian solar industry is hoping for a significant boost in the upcoming Union Budget. Key demands include Production Linked Incentive (PLI) schemes for vital components, the continuation of PM-KUSUM 2.0, and support for the PM Surya Ghar initiative. They are also seeking viability gap funding to accelerate energy storage projects.","timestamp":1768294800,"category":"business","headline":"Solar Energy Boost: India's Budget Wish List","modifiedHeadline":"India Eyes Solar Energy Boost in New Budget","subCategories":["scid_dad10ecd"],"region":"IN","bundleMetaData":{"bundleId":"7b48871c-c993-4956-b43d-6f46f8e1b036","bundleTitle":"Today In India","cardData":null},"iabCategoryId":"78","fcSummary":"India's solar industry seeks budget support for growth, including PLI scheme expansion to boost local manufacturing, revival of PM-KUSUM 2.0 for farmers, acceleration of PM Surya Ghar for household rooftop systems, and viability gap funding for energy storage projects.","summary":"India's solar sector anticipates Union Budget boost with PLI schemes & PM-KUSUM 2.0 continuation, fueling renewable energy growth.","ctaUrl":"https://trends.glance.com/newz/Daily_Digest/IN/en/feedpost-specials/f-91677779fp1-a7f9b937-cdc6-59d9-909e-bac3467ec4d5","sourceUrl":"https://trends.glance.com/newz/Daily_Digest/IN/en/feedpost-specials/f-91677779fp1-a7f9b937-cdc6-59d9-909e-bac3467ec4d5","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/vygZmGPHeY-0.webp","content":"

\n As India aims for greener energy, the solar industry has outlined its hopes for the next Union Budget. These expectations center on financial incentives and policy support to drive growth and meet the nation’s renewable energy targets. Let's explore what the industry is looking for.\n

PLI Scheme Expansion

The solar industry is advocating for an extension of the Production Linked Incentive (PLI) scheme, specifically targeting capital-intensive components.

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The objective is to provide a boost to local manufacturing, reduce dependence on imports, and stimulate domestic production capabilities. This push encompasses crucial elements of solar energy systems. This move is anticipated to not only strengthen the local supply chain but also generate job opportunities and ensure India's self-reliance in the solar sector, furthering the goals of Atmanirbhar Bharat.

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PM-KUSUM 2.0 Revival

The industry is keen on the revival of the PM-KUSUM 2.0 scheme. This initiative, previously focused on supporting farmers in installing solar pumps and setting up grid-connected solar power projects, aims to boost the adoption of solar energy in the agricultural sector. The expectation is that the budget will allocate resources to continue and potentially expand this program. This is to ensure that farmers have access to affordable and reliable solar-powered irrigation, lowering their energy costs and boosting sustainable farming practices. A renewed focus on PM-KUSUM 2.0 could significantly contribute to the decentralization of solar power generation across India.

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PM Surya Ghar Support

Another crucial expectation is the acceleration of the PM Surya Ghar scheme, which seeks to encourage the installation of rooftop solar systems in households. The industry believes that additional financial assistance and incentives within the budget could significantly boost the scheme’s reach and effectiveness. Further investment in PM Surya Ghar is expected to make solar energy more accessible and affordable for a broader segment of the population. This could lead to a substantial increase in solar power generation from residential installations, thereby contributing to India’s clean energy transition and reducing dependence on conventional power sources.

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Energy Storage Funding

To address the intermittency issues associated with solar energy, the industry is calling for viability gap funding (VGF) for energy storage projects. Providing VGF for storage solutions is expected to encourage the development of advanced battery storage systems and pumped hydro projects. This strategic move is anticipated to improve the grid's stability and reliability. Furthermore, such investments could enhance the integration of solar power into the national grid and support the country’s clean energy goals. Supporting energy storage is, thus, a crucial step for achieving a robust and sustainable solar energy ecosystem.

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Solar Energy Boost: India's Budget Wish List

SUMMARY