Using local solar gear will raise tariffs by only 2-5 paise: Energy minister RK Singh

NEW DELHI: Using locally-manufactured solar equipment will raise the per-unit price of power by only 2-5 paise, which will not deter buyers, power and renewable energy minister RK Singh said on Thursday.

Singh was speaking at a video conference organised by the Confederation of Indian Industry (CII). The minister also said that development of renewable energy along with storage capacity will help reduce import of fossil fuels.

The government is keen that project developers set up storage facilities and use indigenous-developed equipment.

Singh said that customers would proudly pay a little more for electricity generated from locally-sourced equipment. “We are ready to pay more for power made in India,” he said. “Whatever the difference is, around 2 to 5 paise, Indians would be happy to pay that.”