India's solar push hits setback as costs jump 20%
Business
India's big push for solar energy just hit a speed bump: costs for building solar projects have jumped 20% this year.
Thanks to supply chain issues from the West Asia conflict, key materials like copper and aluminum are way more expensive, and solar cells now cost up to ₹14 per watt (up from ₹10 in January 2026).
Higher costs complicate 500 GW goal
This spike is making it tougher for India to hit its ambitious goal of 500 GW of clean energy by 2030. Developers are feeling the squeeze with higher expenses and tighter financing.
Even though India has solid manufacturing capacity, government rules requiring locally-produced cells and pricier domestic modules are causing cost pressure and forcing companies to rethink their budgets.