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Home News Power Sector News Centre to provide Rs 5,000-crore subsidy for rooftop solar power

Centre to provide Rs 5,000-crore subsidy for rooftop solar power

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Rooftop solarThe Cabinet Committee on Economic Affairs has approved an increase in the budget for implementation of grid connected solar rooftop systems under National Solar Mission from Rs 600 crore to Rs 5,000 crore by 2019-20.

This will support Installation of 4,200 megawatt peak (MWp) solar rooftop systems in the country in the next five years, an official statement on December 30 said.

A capital subsidy of 30% will be provided for general category states and union territories, and 70% for special category states including Uttarakhand, Himachal Pradesh, Jammu and Kashmir, Lakshadweep, Andaman & Nicobar Islands, and those in the Northeast.

There will be no subsidy for private commercial and industrial establishments since these entities are eligible for other benefits such as accelerated depreciation, customs duty concessions, excise duty exemptions and tax holiday, etc.

The target of 4,200 MWp capacity includes installations in residential, government, social and institutional sector such as hospitals and educational institutions. Industrial and commercial sector will be encouraged for installations without subsidy. This will create the market, build the confidence of the consumers and enable the balance capacity through market mode to achieve the target of 40,000 MWp by 2022, the statement said.

The government has revised the target of National Solar Mission from 20,000 MWp to 100,000 MWp by 2022. Of this, 40,000 MWp is to come through grid connected solar rooftop systems.

Source- ET

 

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