The government has eliminated import duties on the raw materials used to produce solar energy for the fiscal year 2024–2025 budget allocation; this move is expected to drive down the cost of locally produced solar panels, inverters, and batteries.
In the interim, assembled solar panels continue to be exempt from taxes. This implies continued reductions in solar system costs.
Following the National Assembly’s introduction of the Finance Bill for the fiscal year 2024–25 on Wednesday, there was no longer any talk of a potential hike in solar panel costs. Taxes or duties on solar cells—whether or not they are assembled into panels—are not mentioned.
Instead, the government declared that the levy on the import of raw materials would be zero.
