Energy sector urges govt to expand PLI scheme to boost domestic manufacturing: Union Budget 2022

New Delhi: It has been reported that The Energy sector is pinning a lot of hopes that the upcoming budget shall offer the much-needed push to the revive consumer confidence in renewable energy sources.

Energy sector believes that the Union Budget 2022-23 will set a path to recovery beginning this year.

“As per recent speculations, it is also expected that the upcoming budget will provide more clarity on tenure of Basic Custom Duty (BCD) on import of Solar PV cells and module. Expansion of the production-linked incentive (PLI) scheme to boost domestic manufacturing significantly, the report said.

Additionally, we expect the government to provide financial incentives for the rapid growth of producing Green Hydrogen and making India as a Global manufacturing hub for Electrolyser to generate green hydrogen,” Manoj Gupta, Vice President, Solar and Waste to Energy Business, Fortum India said.

Amit Kapur, Joint Managing Partner, J Sagar Associates (JSA) said, “Nudge energy transition through climate change by establishing carbon markets, ancillary services markets which would fund climate transition by pricing the positive externalities of eVs, battery storage and grid stability”, the report said.