Daily News Wrap-Up: Anticipation Builds in Solar Sector as Budget 2024 Approaches

Energy storage sector secures record venture capital funding of $9.2 billion in 2023

February 1, 2024

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The solar industry stakeholders have a long wish list for the Union Budget 2024, which will be presented on February 1, 2024. Stakeholders hope Finance Minister Nirmala Sitharaman will announce tax and duty waivers for solar equipment to boost domestic solar manufacturing. Mercom spoke to a cross-section of industry stakeholders to understand their expectations from the budget. In the first nine months of 2023, India installed 5.6 GW of solar power capacity, marking a ~47% year-over-year (YoY) decrease from 10.5 GW.

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