As an investor from a matured solar market in the West looking at India, Jonathan Selwyn, chairman of the UK retail investor-backed Downing Indian Solar EIS, discusses the experience of investing in Indian solar.
India’s 100GW solar target is under threat from remedial action against imports of solar modules, unless a range of recommended solutions are considered, according to a letter from the Indian Solar Association to the Finance Ministry.
India has announced plans for an unprecedented solar procurement regime that aims to tender 20GW in 2017/18, followed by another 30GW in each of the two following years, but analysts have described the policy as "completely unrealistic".
A lack of clarity around India’s recently enforced Goods and Services Tax (GST) Bill has caused a PV tender delay in the state of Gujarat and prompted the nation’s energy storage alliance to write a letter of appeal to the government.
India’s Goods and Services Tax (GST) Bill was enforced on 1 July bringing in a 5% tax on solar PV modules, but there is still uncertainty around taxes on other solar equipment, according to consultancy firm Bridge to India.
After announcements that India will hit solar cells and modules with an 18% tax under the new Goods and Services Tax (GST) Bill, some confusion has arisen about what level the tax will actually be set at.