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Govt. is providing Financial and Fiscal incentives to set up Solar and Wind Power Plants

By Solar Times Bureau.

30-50 MW Potential for Solar Power per Square km & 20 MW at 50 meter height for Wind Power is been estimated

    Solar energy is most useful renewable source of energy; we can consume it as much as we want, all we need to implement setting up of plants and system to generate energy. Government is promoting it on full capacity and day-by-day new plans are being implementing to generate solar power through out the country. It is estimated that in most part of the country, 30-50 MW per square km is the potential of solar power of open, shadow free area covered with solar panels/collectors. Along with solar power government in implementing plans to generate wind power also, wind power is the most successive renewable energy source in India. In Himachal Pradesh an estimation of potential of 20 MW at 50 meter height has been identified.

The government wants to establish solar power and wind power projects through out the country, including the hill states. So as to provide solar energy in all parts of the country and optimizes full solar energy in every aspect. To promote this objective they are providing several financial and fiscal incentives. The incentives provided are concessional/nil customs and excise duties on specified equipments, components & materials, accelerated depreciation and preferential feed-in-tariffs/ generation based incentive for grid connected projects, which depends upon the project capacity and category.

Further, government is providing special incentives for North-Eastern states like Uttarakhand, Himachal Pradesh, Jammu and Kashmir and border districts. If the installations of off-grid solar power plants/systems are undertaken by government institutes/organizations, a special incentive of capital subsidy up to 90% of the benchmark cost of the system up to 100 KW provided in addition. But, no special incentives are provided for establishment of off-grid wind power plants, in hill states.

The financial and fiscal incentives provided by government give a boost in increasing the no. of establishment of solar power plants/systems and wind power plants, this in result, will reduce the consumption of energy generated through non-renewable energy resources. This will be economically and ecologically beneficial to the whole country and government.

 

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