Export of solar modules up 20% at $668m, led by rush of shipments to US
New Delhi: India’s solar modules export rose 20.5% year-on-year in the first four months of the ongoing fiscal to $668 million and 30% in volume terms to 4.6 million, led by shipments to the US, the key destination for exporters.
Multiple factors including deadline for projects availing tax credits in the US and increase in shipments before tariff imposition led to the rise, said industry experts. An amendment in the US laws required that projects break ground within 60 days to qualify for clean electricity production and investment tax credits, which may have potentially led to expediting module shipments, three industry people said.
