- January 24, 2018
Renewables: India will hit 175GW target ‘before 2020’, 30% Trump tax, 70% proposed India duty ‘flawed’
Trump’s 30% solar import tax ‘bad’ for US manufacturings
Trump’s ‘lighter than expected’ but steep 30% duty on solar imports to ‘boost’ domestic manufacturing won’t bring back the jobs from China, but it’s the biggest blow to the clean energyindustry yet, experts say. The US solar traders’ body SEIA called it a loss for the US that may actually cost 23,000 American jobs in domestic manufacturing.
India’s proposed tax ‘flawed’, Trump tax ‘opportunity’?
India has also proposed 70% ‘safeguard duty’ on solar imports to ‘protect’ domestic manufacturers. The US decision might ‘nudge’ India to go ahead with its own tariffs, but some see it as ‘opportunity’ for India if it decides to drop its tariff plan and use lower prices to its advantage, as suppliers seek new markets. The ‘flawed’ proposal is expected to slow the solar growth of the last 7 years, and jeopardize India’s 100GW by 2022 target. Credit rating agency Crisil said the proposed tax will put 3GW of solar projects in danger and raise costs by 25%. Domestic solar manufacturers’ body AISIA said the proposal will hurt domestic manufacturers operating in SEZs (special economic zones)
Rajasthan to export 4,000 MW clean energy
Rajasthan is setting up Green Corridor connecting Punjab and Gujarat before it starts exporting 4,000 MW renewable energy to other states by 2019. The Green Corridor is vital for Rajasthan as it will only be able to use a part of total solar and wind power generation once ultra mega solar projects get commissioned by 2019.
Solar PV costs to ‘halve by 2020’
Meanwhile, the International Renewable Energy Agency (IRENA) says costs of solar PVs are expected to fall by 50% by 2020 and wind and solar could be generating power for less than 3 cents per kWh in 2 years.
First solar company beats coal-based plant
Solar power company ReNew Power has become the first renewable power company to beat coal based plants in the spot market. ReNew Power set a record by directly competing with coal generated power firms by achieving better tariffs than those quoted in the auction process.
Denmark leads in Wind Power, China to lead by 2022
Denmark set a global record for wind power. Wind power accounted for a record high of 43.4% of the total electricity consumption in Denmark in 2017. Denmark’s energy minister said earlier renewable power was pushed for climate concerns, but now solely for economic concerns. According to BNEF study the offshore wind market is expected to grow 6 times by 2030 and China is expected lead the world in wind installation by 2022.