This May we had published a preliminary guide on expected GST rates for the rooftop solar industry. Now that the dust has settled, the final rates are clear. Below information serves as a ready reference for the GST rates applicable along with relevant HSN codes for the solar industry in India: (more…)
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The past few months were marked by substantial speculation around how GST will affect the solar industry. Sunkalp Energy had run a few analyses which had indicated a 12-15% increase in the cost of solar. Further we had made some recommendations for including solar and components in ‘zero’ lists.
This Friday the Government released final Goods and Services Tax (GST) rates under the new indirect tax regime proposed to be rolled out from July 1. Below GST rates will be applicable on solar goods:
- Solar Panel -5%
- Solar Cells -18%
We look on in disbelief as the results of aggressive bidding for the Bhadla Solar Park were announced today. ACME and SoftBank Energy won the tender to supply electricity at Rs. 2.44/ kWh and Rs. 2.45/ kWh respectively. The results came after open bidding that spanned two days and thirteen participants that included Hero Solar and Renew Solar Power.
Solar tariffs are in a state of free fall, these results come on the back of the widely celebrated results of Rs. 3.3/ kWh for REWA Solar Park in Madhya Pradesh, barely 4 months ago.
At Rs. 2.44 per unit, electricity from the Bhadla Solar Park will be 25% cheaper than that from coal power plants.
Only one question remains to be answered: Is this sustainable or a bubble waiting to burst?
In an unprecedented move this Wednesday, the Cabinet Committee on Economic Affairs cleared an 8100 cr. proposal to double the solar park capacity to be achieved by 2019-20 to 40 GW.
This move was reportedly motivated by the enthusiastic response received for Rewa’s Ultra Mega Solar Power Park.