Topics Covered: Infrastructure- energy.
Incentives for solar energy sector:
The Union Cabinet has approved two production-linked incentive schemes for:
- White goods (air-conditioners and LED lights).
- High-efficiency solar photovoltaic modules.
About the PLI scheme:
- The prime objective of the PLI scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies.
- It is designed to create complete component ecosystem in India and make India an integral part of the global supply chains.
- The scheme would extend an incentive of 4% to 6% on incremental sales of goods made in India for five years.
- Additional 10,000 MW capacity of integrated solar PV manufacturing plants.
- Direct investment of around Rs.17,200 crore in solar PV manufacturing projects.
- Demand of Rs.17,500 crore over 5 years for ‘Balance of Materials’.
- Direct employment of about 30,000 and Indirect employment of about 1,20,000 persons.
- Import substitution of around Rs.17,500 crore every year.
- Impetus to Research & Development to achieve higher efficiency in solar PV modules.