US incentives – Bharat Pulse News

A newly passed U.S. Senate megabill aimed at rolling back clean‑energy incentives has sent shockwaves through Indian solar manufacturers, threatening exports and “Make in USA” plans anchored in American subsidy programs. Incentives Cut and Excise Taxes Introduced The legislation significantly trims several key provisions of the 2022 Inflation Reduction Act (IRA). Wind and solar investment tax credits will be phased out, residential solar benefits will cease by 2027, and a new excise duty will be imposed on renewable projects relying on foreign-made components. Crucially, projects dependent on modules from countries like India would no longer qualify for federal incentives. Export Surge at Risk India’s solar exports to the U.S. skyrocketed from nearly zero in FY 2022 to over 97% of total exports by FY 2024. Leading firms such as Waaree, Adani Solar, and Vikram Solar scaled up aggressively to meet American demand. With these incentives now in jeopardy, order volumes are expected to slump, and many contracts may stall—or vanish altogether. “Make in USA” Plans in Jeopardy Several Indian companies were preparing module assembly facilities in the U.S., confident of IRA-backed support. Waaree had announced a potential $1 billion expansion in Texas, aiming to double its capacity from 1.6 to 3.2 GW. Yet the new excise tax on foreign inputs and early sunset of credits risk derailing such investments, increasing project costs and turning planned greenfield units into stranded assets. Industry Response and Buffer Timeline Industry leaders remain cautiously optimistic in the short term. Many U.S. contracts include forward orders and advance payments, potentially covering operations through 2028. However, analysts warn that without sustained incentives, hundreds of solar projects could be delayed or cancelled—hitting both U.S. renewable targets and Indian exporter revenues.

US Clean‑Energy Bill Threatens Indian Solar Exports and “Make in USA” Plans

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