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The imposition of basic customs duty (BCD) on solar cells and modules with effect from 1 April 2022 would lead to an increase in solar tariffs, reducing the overall attractiveness of solar projects to off-takers and finally end-consumers, according to India Ratings and Research (Ind-Ra).“The increase in tariffs will increase power purchase costs for solar off-takers by Rs 9 billion annually".
The tariffs for solar power could increase between 25-45 paise per unit (kWh) due to Basic Customs Duty (BCD) on imported solar cells and modules, according to a rating agency. The Ministry of New and Renewable Energy's (MNRE) announcement of the BCD implementation on imported solar cells (25 per cent) and modules (40 per cent) starting April 1 could increase the solar power tariff, it said.