India smashes solar panels

Is India a bright spot in the solar industry?

Just three years ago, India’s pledge to reach nearly 500 gigawatts of renewable energy capacity by 2030 made it a bright spot in the global solar industry. Now US corruption allegations centred on the country’s biggest solar operator have cast a pall over a sector vital to its efforts to combat climate change.

Who are the top Indian solar suppliers?

Waaree Technologies (WAAR.BO) and Adani Enterprises (ADEL.NS) are the top Indian solar suppliers to the U.S. market. A spokesperson for Adani confirmed that some of its shipments had been detained and that all had been released.

How do solar tariffs work in India?

Start with bureaucracy. The tariffs power producers charge for solar projects are determined through auctions run by the federal agency Solar Energy Corporation of India at the time they win the initial contract - which in this particular case was the first half of 2020. The producers then hunt for long-term power purchase agreements.

Will there be demand for solar panels from India?

Sumant Sinha, chief executive of ReNew, among India’s largest renewables companies, told the Financial Times that there “will be demand” for solar components from India as Washington reduces reliance on Chinese supplies for its energy transition.

Why did India slap tariffs on Chinese solar panels?

India was seeking to transform itself into a clean energy superpower but government officials voiced concerns about its growing reliance on technology made in China, the world’s largest producer of solar panels. To tackle the problem, officials slapped tariffs on Chinese solar imports in 2018.

Why are Indian solar panels detentions increasing?

"If the solar cells for Indian panels are coming from China, then there is likely a good reason why detentions of Indian products may be increasing," said Tim Brightbill, a trade attorney with Wiley Rein LLP.