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The renewable energy sector is urging the FY27 Union Budget to provide stronger incentives for R&D, domestic manufacturing of ingots and wafers, and grid infrastructure development. Industry leaders emphasize the need for policy clarity, financially stable utilities, and bankable power purchase agreements, along with support for distributed solar, hybrid systems, and storage solutions. Experts also highlight the importance of carbon monetization, recycling of modules and batteries, customs duty exemptions, and green finance to strengthen India's clean energy transition and ensure execution of renewable projects at scale.
The renewable energy sector has called for stronger incentives for research and development, as well as for the domestic manufacturing of ingots and wafers, in the upcoming FY27 Union Budget. The industry is keen to move from announcing new capacities to ensuring projects are executed effectively. Advertisement
Stakeholders have also highlighted the need to expand transmission infrastructure and access long-term green financing. Finance Minister Nirmala Sitharaman is set to present the budget for financial year 2026-27 in Parliament on February 1.
Industry experts say continued growth in renewable energy will depend on clear policy frameworks, financially stable utilities, and bankable power purchase agreements. Support for distributed solar systems, storage-linked solutions, and hybrid energy systems is also considered critical for sustainable development.
Sameer Gupta, Chairman of Jakson Group, emphasized that the budget provides an opportunity to focus on execution across the renewable energy ecosystem rather than just capacity announcements. A clear push for rooftop solar and hybrid solutions for commercial and industrial users could help decentralize energy generation, reduce grid stress, and accelerate the clean energy transition in a commercially viable way.
Rohit Chandra, CEO of OMC Power, noted that India's clean energy journey is at a critical stage, making affordable, long-term green financing essential for scaling distributed solar and hybrid systems. He added that credible carbon monetization frameworks could significantly accelerate renewable adoption.
Vinay Rustagi, Chief Business Officer at Premier Energies, pointed out that the government has consistently prioritized renewable energy. The industry expects budget measures to provide incentives for R&D and domestic production of solar modules to enhance self-reliance.
Piyush Goyal, Co-Founder and CEO of Volks Energie, highlighted grid readiness as an ongoing challenge. He suggested increased funding for inter-state transmission systems, digital grid management, and forecasting tools to ensure renewable power is reliably integrated at scale.
Chetan Shah, Chairman and Managing Director of Solex Energy, stressed the importance of incentives for recycling and responsible disposal of solar modules, batteries, and storage systems to build a sustainable and resilient energy ecosystem.
Pawan Garg, MD of Fujiyama Power Systems (UTL Group), added that the budget should focus on strengthening domestic manufacturing, grid infrastructure, and distributed solar adoption for long-term growth. He also called for support across the entire solar value chain from ingots and wafers to batteries and power electronics along with rationalized GST structures and low-cost, long-tenure green finance.
Vineet Mittal, Chairman of Avaada Group, highlighted the industry's expectations for customs duty exemptions on clean-tech capital equipment, eased land acquisition thresholds for project financing, waivers on refinancing prepayment penalties, and policies promoting green fuels across sectors like refining, fertilisers, shipping, and mobility.
Manish Dabkara, CMD of EKI Energy, emphasized the importance of clarity and continuity in policies affecting renewable deployment, carbon markets, and corporate decarbonization strategies.
Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy Group, suggested that a focus on single-window clearances and dedicated transmission funding could help the Ministry of New and Renewable Energy achieve long-term capacity targets by addressing gaps in connectivity and infrastructure planning.
Source PTI
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