India needs $ 7.2 billion investment to promote solar modules: Report

India will need to invest $ 7.2 billion over the next three to four years to promote integrated production of solar modules, a report said on Thursday.

CEEW Center for Energy Finance (CEEW-CEF) could help domestic module makers push for improved domestic production by selling 150 gigawatts to earn $ 30 billion (Rs 2.3 trillion) by 2030 and create employment opportunities for about 41,000 workers. Report published by

“India’s pressure to nationalize the solar production value chain will require েক্স 7.2 billion (Rs 53,773 crore) worth of Capex investment over the next three to four years,” it said.

Rishabh Jain, CEEW’s program lead, says that solar energy is the basis for setting a goal of 500 gigawatts of non-fossil-based power and long-term net-zero ambition by 2030.

He noted that the ongoing geopolitical and energy crises point to the importance of developing a reliable and strong internal supply chain for industries that are critical to reducing import dependence and shifting energy.

To boost domestic solar production, the government has already announced a number of initiatives in FY 2021-22, including allocating $ 3.2 billion (Rs 24,000 crore) through production-linked incentive projects and imposing 25 per cent and 40 per cent basic tariffs on solar cells and modules. All imports, respectively.

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