Government support is considered to be the primary force behind solar growth in India.
And with global investment in the solar rooftop increasing more than 12% in 2015 than the previous year, India is getting ready to launch new initiatives to leverage this growth. Facilities like accelerated depreciation, custom duty concession, excise duty exemption and tax holidays for commercial and industrial sectors, have shown a growth trend of (approximately) 0.525 GW capacity installation in 2015. And the capacity is expected to rise up to 700 MW in 2016. Although the growth ratio is quite impressive, the question remains whether this growth rate is capable enough to outfit our country for a 40 GW by 2022 leap.
Present growth
The Indian government has bagged $1.5 billion foreign financial aid for the rooftop sector. And the plan is to utilise this reserve to provide a 30% subsidy to set up rooftop solar plants for all domestic users and public institutions. Although, previous initiatives sharply focused on commercial and industrial rooftop installations, this new initiative to bring in the common man in the rooftop solar sector would surely translate into growth and awareness.
This story is from the October 2016 edition of Power Watch India.
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This story is from the October 2016 edition of Power Watch India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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