Cabinet approves Rs.5000 crore for promotion of Solar Rooftops in the country
Updated: Dec 30, 2015 02:32:33pm
New Delhi, Dec 30 (KNN) The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved the scaling up of budget from Rs, 600 crore to Rs. 5,000 crore for implementation of Grid Connected Rooftops systems over a period of five years upto 2019-20 under National Solar Mission (NSM). This will support Installation of 4200 MW Solar Rooftop systems in the country in next five years.
The capital subsidy of 30% will be provided for general category States/UTs and 70% for special category States i.e., North-Eastern States including Sikkim, Uttarakhand, Himachal Pradesh, Jammu & Kashmir and Lakshadweep, Andaman & Nicobar Islands.
“There will be no subsidy for commercial and industrial establishments In the private sector since they are eligible for other benefits such as accelerated depreciation, custom duty concessions, excise duty exemptions and tax holiday etc,” according to an official statement
This capacity of 4200 MWp will come up through the residential, Government, Social and institutional sector (hospitals, educational institutions etc.).
“Industrial & commercial sector will be encouraged for installations without subsidy. This will create the market, build the confidence of the consumers and will enable the balance capacity through market mode to achieve the target of 40,000 MWp by 2022,” said the release.
The Government has revised the target of National Solar Mission (NSM) from 20,000 MWp to 1,00,000 MWp by 2022. Out of the 40,000 MWp is to come through grid connected solar rooftop systems. This approval will boost the installations in a big way and will act as a catalyst to achieve the goal of 40,000 MWp. (With PIB Inputs)
The capital subsidy of 30% will be provided for general category States/UTs and 70% for special category States i.e., North-Eastern States including Sikkim, Uttarakhand, Himachal Pradesh, Jammu & Kashmir and Lakshadweep, Andaman & Nicobar Islands.
“There will be no subsidy for commercial and industrial establishments In the private sector since they are eligible for other benefits such as accelerated depreciation, custom duty concessions, excise duty exemptions and tax holiday etc,” according to an official statement
This capacity of 4200 MWp will come up through the residential, Government, Social and institutional sector (hospitals, educational institutions etc.).
“Industrial & commercial sector will be encouraged for installations without subsidy. This will create the market, build the confidence of the consumers and will enable the balance capacity through market mode to achieve the target of 40,000 MWp by 2022,” said the release.
The Government has revised the target of National Solar Mission (NSM) from 20,000 MWp to 1,00,000 MWp by 2022. Out of the 40,000 MWp is to come through grid connected solar rooftop systems. This approval will boost the installations in a big way and will act as a catalyst to achieve the goal of 40,000 MWp. (With PIB Inputs)
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