"India is graduating from Megawatts to Gigawatts in Renewable Energy Production" as quoted by Prime Minister Shri Narendra Modi.
The Govt. of India launched the largest renewable energy expansion programme in the world with a release of target of 175 GW by 2020 of which 100 GW has primarily been allotted to solar. Out of target of 100 GW, 40 GW has been allotted to rooftop solar power plants.
To encourage uptake of solar power, the Ministry of New and Renewable Energy have provided attractive sops:
- MNRE Central Financial Assistance available for solar power projects for various categories like residential, institutional, government and social sector
- 10 year tax holiday on revenue associated from solar power generation
- Customs duty and excise duty exemption on all equipment’s for erections of a solar power plant
- Provision of bank loans as a part of home loan/home improvement loan for residential systems.
- Loans available up to Rs. 15 crore for renewable energy projects and upto Rs. 10 lakhs for individual loans under priority sector lending.
- Enforcement of Renewable Purchase Obligations for captive power generators
- Net-metering schemes has been rolled out in majority of States to encourage installation of solar rooftop
- Fiscal incentives in the form of accelerated depreciation (80% + 20%) benefits for industrial and commercial building
- Approval of 56 solar cities projects under the "Development of Solar Cities Programme."
- Mandate by several states to make solar power compulsory on government buildings
- Increase in Coal Cess from Rs 100 to Rs 200/ton for incentivizing development of RE in the country.
As per the statistics released by Govt. of India, 827. 22 MW of grid-interactive solar power has been installed against a target of 1400 MW and 46.50 MW of off-grid solar power has been installed against a target of 50 MW with a cumulative achievement of 4860.09 MW (as on 31.10.15). The year 2016 is expected to be even more eventful with MNRE stepping up its solar tendered capacity to 10 GW and solar rooftop target of 4800 MW in the coming year.
Span's achievements in 2015
Span Pumps Pvt. Ltd. was awarded the highest accreditation as a "SP 2A certified MNRE approved Channel Partner" under the MNRE implemented "Grid-connected and small power plants programme." Prior to 2015, we primarily dealt only with manually operated pumps, solar pumps and solar dual pumps, achieving almost 4MW in off-grid solar generation. With 25 years of experience backed by excellent service, we entered the field of solar power generation with installation of our first solar captive power plant in May 2015. Till date, we have installed almost 1MW cumulative solar power plants across India with our primary focus on commercial and industrial sector.
Contact Span today to enjoy uninterrupted supply of electricity at reasonable cost for a span of 25 years!