ReNew Energy Global Plc (ReNew) today announced price reduction in its solar modules and cells, following the Government of India’s landmark decision to lower goods and services tax (GST) on renewable energy equipment from 12% to 5%, effective September 22, 2025.
The company said the price reduction will translate into substantial savings for utility-scale developers, rooftop solar consumers, and farmers under flagship schemes like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM, further democratizing access to clean energy. The GST reduction will translate into direct savings of up to INR 10 lakhs per MW for non-DCR modules and up to INR 15 lakh per MW for DCR modules for utility-scale projects.
“For residential consumers under the PM Surya Ghar Muft Bijli Yojana, the cost of a typical 3 kW rooftop solar system is expected to drop by up to INR 5,000, while farmers installing 5 HP solar pumps under PM-KUSUM will benefit from up to INR 12,000 reduction. These savings are in addition to existing subsidies and financing support, making clean energy more affordable and accessible to millions,” stated ReNew.
As of September 2025, PM Surya Ghar Muft Bijli Yojana has powered over 20 lakh homes. Meanwhile, PM-KUSUM has achieved over 10 lakh solar pump installations or solarization nationwide as of April 1, 2025, with a record number of new installations in FY 2024–25. The GST reduction will act as a powerful accelerator for both schemes, helping India reach its target of 1onecrore solar-powered households by 2026–27 and expanding solar access across urban and rural communities.
ReNew is a decarbonization solutions company listed on Nasdaq. It has a clean energy portfolio of 18.2 GW on a gross basis as of August 13, 2025. In addition to being a major private-sector power producer in India, it has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacity with the plans of expanding solar cells manufacturing by 4 GW in 2026.
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