Union Budget 2022: Renewable energy industry wants stable policy to promote investments

The Union Budget 2022-23 should focus on long-term policy stability to promote investments in the renewable energy sector, according to industry executives. They also think the government should reduce customs duties on electrolysers to boost green hydrogen space, and provide tax rebates to the residential solar prosumers.

“Budgetary allocations for the expansion of domestic manufacturing capabilities, such as the PLI scheme, will help boost RE growth – this is expected to provide an impetus for manufacturing of clean energy equipment such as solar panels, electrolysers, batteries and wind turbines,” Sumant Sinha, chairman and chief executive officer (CEO), ReNew Power, one of the largest independent power producer (IPP) in clean energy space, told ETEnergyWorld.