India’s Ministry of New and Renewable Energy (MNRE) has exempted solar energy projects from domestic content requirements if commissioned by March 31, 2024. According to the Classification Society of India, the move will provide flexibility to developers to procure modules at a more competitive price. ICRA.
India’s MNRE says solar projects commissioned by March 31, 2024 need not source PV modules from the Approved Models and Manufacturers (ALMM) list.
The cost of imported modules remains competitive compared to panels sourced from domestic manufacturers that use imported solar cells. PRice for simple PERC modules has declined over the past five to six months, with a peak in December 2022, ICRA says.
India’s domestic module manufacturing capacity has grown significantly over the past two years. While this is positive for the solar power sector, the lack of backward integration and limited cell manufacturing capacity keep module manufacturers dependent on imported solar cells.
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