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Government Policies That Support The Renewable Energy Sector

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The Indian government has demonstrated strong support for the renewable energy sector through various policies and initiatives. Some of the key government policies that support the renewable energy sector in India are:

Renewable Energy Targets: India has set ambitious renewable energy targets, including a goal of achieving 280 GW of solar capacity by 2030.

Production Linked Incentive (PLI) Schemes: The government has included solar manufacturing in its Production Linked Incentive (PLI) Schemes to provide greater incentives for domestic production and reduce reliance on imports.

Customs Duties: In March 2021, the government announced basic customs duties on solar photovoltaic cells and modules to encourage indigenous manufacturing.

Subsidies and Financial Support: The government has increased subsidies for renewable energy, with a focus on clean energy and energy security.

Energy Transition and Net-Zero Emissions: India has committed to achieving net-zero emissions by 2070 and has set ambitious targets for renewable energy capacity, indicating a strong commitment to clean energy transition.

State-Level Support: The government is working with individual states to plan and manage the integration of renewable energy into the power system, supporting them in reaching nationwide targets and creating an enabling environment for renewable energy growth.

These policies and initiatives reflect the government’s commitment to advancing renewable energy, improving energy security, and reducing greenhouse gas emissions. The support provided through subsidies, targets, and manufacturing incentives is expected to drive substantial and rapid growth in the renewable energy sector in India.

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