Webinar on ESS taxation and duties in India
With increased focus on climate change globally, India is seeing paradigm shift towards clean energy and clean transportation. With an ambitious target of achieving 40% of installed capacity based on renewable sources by 2030, energy storage appears to be the key to unlock the true potential of renewable energy and realize this target. The increasing dependence and the need to curb the loss of capacity, with seamless integration with the grid, Energy Storage systems has several constraints to address. Not only renewables, but the transportation sector also enjoys a fair share of 15% of the total electricity demand by 2030, but the marginal cost to the electricity system of meeting this demand is likely to be far less given the flexibility of EV charging loads. Thus, bridging the gap between demand and supply, a fool proof regulatory framework will be essential for attracting larger investments in this sector. SECI and other tender authorities are working on to invite bids for setting up of RE Hybrid projects and units. In another context, the budget caught solar developers by surprise by enabling mechanism to raise tariff on imports (BCD) such as solar PV cells and modules. The Union cabinet announced tax breaks for setting up mega-advanced energy storage manufacturing plants for, lithium storage batteries and other advanced technologies. The move aims to boost domestic manufacturing and protect its domestic companies from cheap and sub-standard imports. Understanding the tax and duties on raw materials, components is essential as Government is planning to increase custom duties over time to support indigenous manufacturing. There are different taxes and duties applicable for various energy storage technologies, systems, cell, pack and module. When a battery is bought with Solar and for EV it attracts different tax slabs. Other system components like BMS, EMS, HVAC system, inverter attracts different tax slabs. This webinar will discuss on taxation and duties on Energy Storage system for renewable and emobility.
For IESA members, email us at [email protected] to receive the registration link.
For IESA members, email us at [email protected] to receive the registration link.