Cabinet approves Production Linked Incentive Scheme on ‘National programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale in High Efficiency Solar PV Modules

Source: The post is based on the article “Cabinet approves Production Linked Incentive Scheme on ‘National programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale in High Efficiency Solar PV Modules” published in PIB on 22nd September 2022

What is the News?

Cabinet has approved the implementation of the Production Linked Incentive Scheme on ‘National programme on High Efficiency Solar PV Modules’.

What is the National programme on High Efficiency Solar PV Modules?

Nodal Ministry: Ministry of New & Renewable Energy

Aim: To build an ecosystem for manufacturing of high efficiency solar PV modules in India and thus reduce import dependence in the area of Renewable Energy.

Under the scheme, Solar PV manufacturers will be selected through a transparent selection process. The PLI will be disbursed for five years post commissioning of solar PV manufacturing plants on sales of high efficiency solar PV modules from the domestic market will be incentivised.

Expected Benefits of the scheme: 1) It is estimated that about 65,000 MW per annum manufacturing capacity of fully and partially integrated, solar PV modules would be installed, 2) Generate employment and direct investment, 3) Import substitution of approximately Rs.1.37 lakh crore and 4) Provide impetus to Research and Development to achieve higher efficiencies in Solar PV Modules.

What are Solar PV Modules?

Solar PV modules are created by joining together solar cells with photovoltaic (PV) cells. They are produced using semiconductors like crystalline silicon. Solar modules transform solar energy into electric energy.