Solar Module Duty ALMM Deadline
POWER & RENEWABLE ENERGY

Solar Module Duty ALMM Deadline

The deadline for the Safeguard Duty (SGD) and the Basic Customs Duty (BCD) exemptions under the Advanced License Manufacturing Mechanism (ALMM) for solar modules might not be extended beyond March 31, as per industry sources. The ALMM scheme, initiated to promote domestic solar manufacturing, has provided a lifeline to the solar industry, aiding in cost reduction and increasing competitiveness against imported modules. However, uncertainties loom over its continuation post the looming deadline.

Under the ALMM, solar developers in India can import equipment duty-free, aiding in the expansion of renewable energy infrastructure across the nation. This exemption from duties on certain solar components has been instrumental in driving down project costs, making solar energy more accessible and economically viable for both developers and end consumers.

The impending conclusion of the ALMM scheme raises concerns within the solar industry. Without the continuation of duty exemptions, developers fear a potential surge in project costs, which could slow down the growth momentum of the sector. Moreover, uncertainties regarding the future policy framework add to the apprehensions, creating a challenging environment for stakeholders.

Industry players have been advocating for the extension of the ALMM deadline, emphasizing the need for policy stability to sustain the growth trajectory of the solar sector. The government's decision on the matter will significantly impact the pace of solar capacity addition in the country and its ability to achieve renewable energy targets.

Furthermore, the outcome of ongoing trade negotiations and geopolitical developments may also influence the government's stance on solar module duties and related policies. With the renewable energy sector poised for exponential growth, maintaining a conducive policy environment is imperative to harnessing its full potential and ensuring energy security for the nation.

In conclusion, the impending deadline for solar module duty exemptions under the ALMM scheme poses challenges for India's renewable energy ambitions. The government's decision on extending these incentives beyond March 31 will shape the future trajectory of the solar industry and its contribution to India's energy transition.

The deadline for the Safeguard Duty (SGD) and the Basic Customs Duty (BCD) exemptions under the Advanced License Manufacturing Mechanism (ALMM) for solar modules might not be extended beyond March 31, as per industry sources. The ALMM scheme, initiated to promote domestic solar manufacturing, has provided a lifeline to the solar industry, aiding in cost reduction and increasing competitiveness against imported modules. However, uncertainties loom over its continuation post the looming deadline. Under the ALMM, solar developers in India can import equipment duty-free, aiding in the expansion of renewable energy infrastructure across the nation. This exemption from duties on certain solar components has been instrumental in driving down project costs, making solar energy more accessible and economically viable for both developers and end consumers. The impending conclusion of the ALMM scheme raises concerns within the solar industry. Without the continuation of duty exemptions, developers fear a potential surge in project costs, which could slow down the growth momentum of the sector. Moreover, uncertainties regarding the future policy framework add to the apprehensions, creating a challenging environment for stakeholders. Industry players have been advocating for the extension of the ALMM deadline, emphasizing the need for policy stability to sustain the growth trajectory of the solar sector. The government's decision on the matter will significantly impact the pace of solar capacity addition in the country and its ability to achieve renewable energy targets. Furthermore, the outcome of ongoing trade negotiations and geopolitical developments may also influence the government's stance on solar module duties and related policies. With the renewable energy sector poised for exponential growth, maintaining a conducive policy environment is imperative to harnessing its full potential and ensuring energy security for the nation. In conclusion, the impending deadline for solar module duty exemptions under the ALMM scheme poses challenges for India's renewable energy ambitions. The government's decision on extending these incentives beyond March 31 will shape the future trajectory of the solar industry and its contribution to India's energy transition.

Next Story
Infrastructure Urban

Shoals' Q3 2024 revenue falls 23.9% due to project delays, supply chain

Shoals Technologies Group, a U.S.-headquartered manufacturer of electrical balance of systems (EBOS) for solar, energy storage, and e-mobility, reported a 23.9% year-over-year (YoY) decline in revenue, which dropped to $102.2 million in the third quarter (Q3) of 2024. This decline was mainly attributed to project delays and supply chain disruptions. The company posted a net loss of $300,000, a significant improvement compared to the $9.8 million net loss in Q3 2023. Adjusted net income was reported at $13.9 million, reflecting a 58.2% YoY decrease. Adjusted EBITDA stood at $24.5 million, a 4..

Next Story
Infrastructure Energy

FTC Solar sees 67% YoY decline in Q3 revenue from lower volumes

FTC Solar, a U.S.-based provider of solar tracker systems, reported a revenue of $10.14 million in the third quarter (Q3) of 2024, surpassing analyst expectations by $240,680. However, this figure marked a 66.8% year-over-year (YoY) decline compared to the same quarter in 2023, primarily attributed to reduced product volumes. The decline in solar tracker revenue was mainly due to an 82% decrease in the amount of MW produced, which was negatively impacted by delays in customer projects. This was partially offset by an increase in the average selling price (ASP), which led to better pricing an..

Next Story
Infrastructure Urban

Dilip Buildcon wins bid for BharatNet Phase III broadband project

Dilip Buildcon announced on Tuesday, November 12, that its STL-DBL consortium had submitted the lowest bid for BSNL's BharatNet Phase III broadband connectivity project. The USOF-funded project, which aims to provide middle and last-mile connectivity in Jammu Kashmir and Ladakh, is valued at Rs.1,625.36 Crore. Dilip Buildcon holds a 70.23% stake in the implementation of the project. The project is expected to be completed in three years, and the corporation will secure a 10-year maintenance contract. In recent days, BSNL has awarded several contracts for the BharatNet project. On Monday, No..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000