To encourage the export of renewable energy equipment and related services, the National Solar Energy Federation of India (NSEFI) has proposed a Renewable Energy Export Promotion Council, along the lines of the Gems and Jewellery Export Promotion Council.
Solar industry stakeholder group NSEFI submitted the proposal to the Union Commerce Ministry in December and expects approval in the months ahead.
“There is vast untapped potential to export solar equipment and services from India,” said Pranav R Mehta, founding chairman of NSEFI and recently appointed chairman of the Global Solar Council. “Not only solar, this is also true also for other renewable energy segments, such as wind, small hydro and waste to energy.
“While imports of solar equipment are still considerable, the domestic industry has already started exporting solar panels and services to Africa, [the] UAE and parts of the U.S. The exports, however, are at a very smaller scale.”
According to Department of Commerce data, the third quarter of calendar year 2018 saw India’s solar exports jump 223% while imports rose 38% on the previous quarter, albeit from wildly different base figures. The United States accounted for 58% of the solar modules and cells exported from India.
By supplying 84.5% of India’s solar requirement, China continued to be the single largest supplier of modules and cells to the country.