Setting up solar plant likely to get dearer by 30% on weaker rupee

Cost of solar panel has touched as low as 28-20 cents per unit in the global market, especially China

After the goods and services tax (GST) and safeguard duty, the Indian solar industry is facing challenges due to a fluctuation in the rupee. Rating agency CRISIL recently estimated that close to half of the under-construction solar power capacity in India worth Rs 280 billion faces viability risk because of the continuous fall in the rupee.

The import-dependent solar power industry is now bracing for cost escalation of solar panels as the rupee weakens against the dollar. While the cost of a solar panel has touched as low as 28-20 cents per unit (kWh) in the global market, especially those coming