India: Renewable energy targets push to 16GW by 2022

    The Indian market added 5.99GW of installed capacity from January to April 2022, a year-on-year increase of 97.3%; as of the end of February 2022, India had 72.61GW of renewable energy projects in various stages of development, including 44.27GW of Solar Panel Home Kit photovoltaic projects.

     According to statistics released by the Indian Ministry of Commerce, India imported US$1.23 billion worth of BCD in the first quarter of 2022 due to the imposition of 25% and 40% BCD basic tariffs on overseas imported cells and modules, respectively, from April 1, 2022. Photovoltaic cells and modules, which increased by 374% compared to the same period last year;

     At the 2021 United Nations Climate Summit, India put forward the goal of achieving carbon neutrality by 2070, and the PLI production incentive plan will also stimulate the demand for photovoltaic installations, which is expected to push the installed capacity to 16GW in 2022.