Standard & Poor's CRISIL Analytics Company published A report on Wednesday predicted that India will become a major exporter of solar energy equipment by 2029.
The report noted that India has favorable policies for the solar power industry, has a large supply of skilled labor and can secure the raw materials needed to manufacture solar power.
Ministry of New and Renewable Energy, India said The government's solar-friendly policies include allowing foreign direct investment in solar power projects, special financing for solar power development, government support for solar energy research, and state subsidies for solar power generation. Contains.
India too imposed In order to favor domestic industry, high tariffs were imposed on imported solar cells. Some Indian solar power companies charge Too Until domestic production improves, the cost of parts that must be imported will increase.
Ironically, one of India's biggest hurdles is difficulty The reason India has such problems producing polysilicon, the most important component of solar panels, is that its energy costs are higher than in China, the country that currently dominates the solar industry. . Approximately 80% of the world's solar cells are produced in China.
Despite these hurdles, CRISIL predicted that India's solar power demand will steadily increase, domestic production will increase accordingly, and the industry will grow to become a significant exporter within about five years. . The authors predicted that rising global demand would also encourage Indian investors to put money into solar PV manufacturing.
indian manufacturer believe Given the moral hazard of getting solar panels from China, China has an opportunity to break its stranglehold on the industry. environmentally destructive Mining practices and uses forced labor – Very expensive for buyers in other countries. The Wuhan coronavirus pandemic also made international companies wary of operating their supply chains entirely through China.
However, after several years of extremely rapid growth, there are signs that the “solar power boom” is coming to an end. China's mass production created There is a glut of solar power, prices are falling, and large investments in new solar power look risky. some critics accuse China intentionally creates this oversupply situation to drive down prices and drive competitors out of the market.
