Revenue losses in the distributed renewable energy (DRE) sector increased between the fourth quarter of the financial year 2019-20 and the first quarter of FY21 due to Covid-19.
Despite the impact of Covid-19, 62 per cent of DRE enterprises reported financial growth in 2019-20– a 17 per cent increase from the previous year. Further, 86 per cent of the members were able to meet their projected revenue. According to State of the DRE sector in India report 2019-20, the most widely appreciated step during Covid-19 was the reduction of 25 per cent of existing rates of tax deducted at source and tax collection at source till March 31, 2021.