19,500 crore to increase production capacity at Giga Watt level in high efficiency solar PV modules. This is a huge and ambitious project.The Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal of the Ministry of New and Renewable Energy to extend the Production Linked Incentive Scheme (Phase 2) to the National Program for High Efficiency Photo Voltaic (PV) Cells or Modules (Solar Power Cells). 19,500 crore to increase production capacity at Giga Watt level in high efficiency solar PV modules. This is a huge and ambitious project. Central government approves production of high-efficiency solar PV modules: Millions of jobs created.
The National Program for High Efficiency Solar PV Modules aims to build an ecosystem for the production of high efficiency solar PV modules in India. This will reduce import dependency in the renewable energy sector. It will create immense jobs along with strengthening the Atmanirbhar Bharat initiative. Central government approves production of high-efficiency solar PV modules: Millions of jobs created.
Solar photovoltaic cell manufacturing companies are selected transparently. The benefits of Production Linked Incentive Scheme (PLI) will be distributed to the sale of high efficiency solar PV modules in the domestic market for 5 years after the solar PV cell manufacturing units start operations.
The expected outcomes and benefits of the PLI scheme are as follows:
1. It is estimated that about 65,000 MW of total and partially integrated, solar PV modules (units or plants) will be installed annually.
2. This project will cost around Rs 94,000 crore. It will attract direct investment.
3.Ethynyl Vinyl Acetate (EVA), Solar Glass, Backsheet etc. Production capacity will be created to maintain supply balance.
4. About 1,95,000 direct jobs and 7,80,000 indirect jobs will be created.
5. Approximately Rs 1.37 lakh crore. Cost of value imports will come down.
6. Research and development programs will be encouraged in the direction of achieving the highest efficiency of production of solar energy photo voltaic cells.