India solar module, cell prices fall after GST cut to 5%

<p class="p1"><span class="s1">ReNew Energy Global Plc (ReNew) cut solar equipment prices after India lowered its goods and services tax (GST), which is expected to reduce costs for utility projects, rooftop systems, and farm pumps.</span></p><p><strong>From <a href="https://www.pv-magazine-india.com/2025/09/22/renew-reduces-solar-module-cell-prices-following-gst-cut/" rel="noopener" target="_blank">pv magazine India</a></strong></p>
<p>ReNew cut prices for its solar modules and cells after India lowered GST on renewable energy equipment from 12% to 5%, effective Sept. 22, 2025.</p>
<p>The company said the reduction will deliver major savings for utility-scale developers, rooftop solar users, and farmers under government programs such as PM Surya Ghar Muft Bijli Yojana and PM-KUSUM. It estimates direct savings of up to INR 1 million ($11,275) per megawatt for non-DCR modules and INR 1.5 million per megawatt for DCR modules in utility projects.</p>
<p>ReNew said that the cost of a typical 3 kW rooftop system will drop by about INR 5,000 for residential consumers, while farmers installing five HP solar pumps under PM-KUSUM will save up to INR 12,000. These benefits come on top of existing subsidies and financing, further expanding access to clean power.</p>
<p>As of September 2025, PM Surya Ghar has supplied solar power to more than 2 million homes, while PM-KUSUM had delivered or solarized more than 1 million pumps as of April. The GST cut is expected to accelerate both schemes, supporting India’s goal of 10 million solar-powered households by 2026–27.</p>
<p>ReNew, listed on Nasdaq, operates 18.2 GW of clean energy capacity as of mid-August. Its manufacturing portfolio includes 6.4 GW of solar modules and 2.5 GW of solar cells, with plans to add 4 GW of cell capacity in 2026.</p>