India’s tax cut on solar and wind devices to lower clean energy tariff, experts say

India’s decision to cut taxes on solar and wind equipment will lower costs for new plants and pressure existing project developers to reduce tariffs, accelerating the country’s shift to renewable energy, industry experts said.

The government on Wednesday slashed the goods and services tax (GST) on solar photovoltaic modules and wind turbine generators to 5% from 12%, part of broader tax cuts on hundreds of consumer items.