Sun gets brighter budget! Key takeaways on Solar Energy from the 2024 Indian Budget & others

Sun gets brighter budget! Key takeaways on Solar Energy from the 2024 Indian Budget

Big news for solar power in India! Here's a quick look at the positive developments in the 2024 budget, summarized in bullet points:

• 75% Budget Boost for Solar: The Indian government has significantly increased budgetary allocation for the solar sector.
• Extending Duty Exemptions: Customs duty exemption on goods used in manufacturing solar equipment has been extended, reducing costs and supporting domestic manufacturing.
• Rooftop Solar Push Continues: The budget reaffirms the government's support for PM Surya Ghar Yojana, a scheme to install rooftop solar panels in 10 million households.
• Focus on Energy Security: The budget emphasizes energy security and lays out plans for a comprehensive energy transition strategy.
• Boosting Domestic Manufacturing: The government's efforts to boost domestic manufacturing of solar equipment by extending customs duty exemptions.
• Securing Critical Mineral Supplies: Initiatives to secure critical mineral supplies for the clean energy industry.
• Pumped Hydro Storage Projects: Promotion of pumped hydro storage projects.

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Budget 2024 Shines a Light on Solar! Free Electricity & More for India

Big news for solar power in India! Here's a breakdown of key announcements by Finance Minister Nirmala Sitharaman in the 2024 Budget:

• Free Electricity for Millions: PM Surya Ghar Yojana aims to install rooftop solar panels in 1 crore households, providing free electricity up to 300 units monthly.
• Solar Power Gets Budget Boost: A significant increase in budgetary allocation for solar projects is announced, accelerating India's clean energy goals.
• Domestic Manufacturing Focus: Extension of duty exemptions on solar equipment manufacturing reduces costs and strengthens domestic production.

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Solar Budget Bonanza with a Twist! India Balances Support and Domestic Manufacturing

The Indian government's Budget 2024-25 has mixed news for the solar sector. Here's a quick look:

• Sweet Subsidies: The budget maintains support for solar power with increased allocations.
• Sour Surprise: A new duty is imposed on solar glass imports, potentially raising panel costs.
• Silver Lining: Exemption on import duties for equipment used in solar cell and module production aims to boost domestic manufacturing.

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Karnataka Steps Up Solar Game! Duty Exemption for Solar & Lithium Ion Batteries

Karnataka is taking a big leap towards clean energy! Here's a look at their exciting move:

• Customs Duty Cut: The Karnataka government has announced a customs duty exemption on imports of solar cells and lithium-ion batteries.
• Boost for Solar Power Projects: This move aims to reduce the cost of setting up solar power plants, making solar energy more accessible and affordable.
• Energy Storage Gets a Lift: The exemption on lithium-ion batteries will support the development of energy storage solutions, critical for integrating renewables into the grid.

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