Imported Equipments From China Jack Up Solar Prices Affecting Uncompleted Solar Projects Due To Outbreak Of The Epidemic Disease: Corona Virus
Quote from Mr. Sanjeev Aggarwal, Founder and CEO, Amplus Solar:
Imported Equipments From China Jack Up Solar Prices Affecting Uncompleted Solar Projects Due To Outbreak Of The Epidemic Disease: Corona Virus
China, the manufacturing hub of the world, is the largest solar panel technology manufacturer, manufacturing more than 60% of the solar panels globally. India also has a high dependence on the solar imports from China and about 90% of solar modules and panels used in Indian projects are sourced from China and Malaysia. The outbreak of coronavirus has led to a delay in procurement of these modules, panels, inverters and other small components, further leading to a delay in the commissioning deadlines.If the demand remains unmet, it can lead to an increase in the cost for the developers, who will have to opt for other expensive markets. This will eventually lead to a hike in prices. Thus, this issue is bound to affect the entire industry world over, if not rapidly catered to.
It is essential to keep up the momentum of the solar industry. The government should remove the safeguard duties on imports from other countries for the time being. They can also incentivise the developers who will now be consuming from the Indian manufacturers. Addressing the issues is not only essential for the developers but it is also a must for the government that has set remarkably high solar targets.
