WILL HITTING CHINA WITH TARIFFS KILL INDIA’S SOLAR DREAMS?

http://money.cnn.com/2018/03/10/news/economy/india-tariffs-china-solar-alliance/index.html

WILL HITTING CHINA WITH TARIFFS KILL INDIA’S SOLAR DREAMS?

By Rishi Iyengar March 10, 2018:

India wants to become a solar powerhouse, generating enough energy for more than 16 million homes by 2022.

The government has approved dozens of new solar plants, rooftop projects and lighting systems, and is offering financial incentives to companies that build them. And Prime Minister Narendra Modi will host the first gathering of the International Solar Alliance in New Delhi on Sunday, with French President Emmanuel Macron in attendance.

But the international summit comes as India’s plan to slap a 70% tariff on imported solar panels divides the country’s industry. Panel installers say the tariffs could kill any hope of hitting the 2022 target, while panel makers say they’re vital to prevent China from gaining too much influence.

‘It will jeopardize the entire plan’

China, Taiwan and Malaysia supply between 80% and 90% of India’s solar panels, according to industry estimates.

Import duties could make solar electricity up to 45% more expensive, said Sunil Kulkarni, head of the renewable energy business at Shapoorji Pallonji, an infrastructure company.