As the government lowers the GST on cells, solar power will become more affordable.The GST rate for solar cells will drop from 12% to 5%.
The Finance Ministry lowered the customs duty on solar cells and modules from 25% to 20% and the duty on solar modules from 40% to 20% in the 2025 Union Budget.
The Ministry of Finance has lowered the goods and services tax (GST) on solar cells, wind energy generators, and biogas plants from 12% to 5%, which will significantly boost the production of renewable energy components.
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At the 56th meeting of the GST Council, the lower GST rates were declared.The development of solar projects will be approximately 5% less expensive thanks to the GST reduction. Significant reductions in solar tariffs are also possible.A 5% GST will now apply to solar cells, regardless of whether they are put together into modules. Solar lanterns and lamps, solar cookers, and solar water heaters and systems will all be subject to the same GST rate. With the GST for windmills and wind-powered power plants reduced to 5%, the wind industry also benefited. Ocean wave and tidal wave devices will also be eligible for the tax reduction.
The Finance Ministry also announced a 5% GST for waste-to-energy projects/devices and biogas projects.The GST applicable to fuel cell motor vehicles, including hydrogen vehicles based on fuel cell technology, has also been reduced to 5%.
If you are an avid follower of the Indian solar market, you must have come across phrases like “the booming solar module manufacturing industry.” Reports have also pointed towards a likely phase of overcapacity in the country sooner or later. But how can we really measure the transition of Indian solar module manufacturers in terms of their capacities, technological advancements, geographical diversification, improved wattages, and other factors?
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