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NewsBytes Explainer: India cuts GST on solar, wind equipment
India recently dropped the GST on solar panels and wind turbines from 12% to 5%.
This tax cut is expected to lower renewable project costs by about 5%, which could mean cheaper electricity bills and a boost for the country's clean energy push.
Cheaper renewable energy
Industry leaders say these savings will likely be passed on to consumers, making green tech like solar water heaters and hydrogen vehicles more accessible.
The move also supports India's big goal: reaching 500 GW of non-fossil fuel power by 2030.
More affordable renewables could mean more investment—and a cleaner future for everyone.