The Government of India is taking the major steps to promote solar energy industry

OREANDA-NEWS. The Government is taking the following major steps to promote solar energy industry:

i.                       Fiscal and financial incentives in the form of accelerated depreciation, concessional/nil customs and excise duties, preferential tariffs and generation based incentives are being provided to improve viability of solar power generation units.

ii.                     An enabling policy and regulatory environment is being created through measures like solar specific RPOs under National Tariff Policy {0.25% in Phase 1 (2013) to increase to 3% by 2022}, State Specific Solar Policies and RPO targets, and REC mechanism.

iii.                   Capital subsidy is being provided for off-grid/decentralized solar power generation systems.

iv.                   Solar Parks are being planned in various parts of the country to achieve cost reductions of solar power generation units through utilization of common infrastructure.

v.                    A scheme for promotion of grid-connected roof-top PV systems with a provision for 30% subsidy has also been formulated.

vi.                  The R&D in solar is also being encouraged. Ministry provides financial support to industry for R&D project.

            The allocation of the scheme wise budget for solar energy in MNRE for Financial year 2014-15 is given below:

Funds are released to State Nodal Agencies and other in accordance with proposals received from them. This was stated by Sh. Piyush Goyal, Minister of state (IC) for Power, Coal & New and Renewable Energy in a written reply to a question in the Lok Sabha today.

The Minister further stated that The above schemes are being implemented through various State Nodal Agencies/Channel Partners/Financial Institutions etc. and circulate to States, Various stake holders and put up on website.