星期一, 1月 25, 2021
Home PV Finance Budget update - Little to cheer for renewable energy sector

Budget update – Little to cheer for renewable energy sector

Save for a few sops, the sunrise renewable energy sector had little to cheer from Finance Minister Mr Pranab Mukherjee's Budget.


One of those sops was an exemption from special countervailing duty that was made available for plant and equipment used in solar themal projects


The budget also proposed to fully exempt a coating chemical used for compact fluorescent lamps from basic customs duty. Excise duty on LED lamps was also being reduced to 6 per cent.


"Over the past two years lot of incentives have been offered to the renewable energy sector. Compared to that this budget has come as an disappointment," said a Delhi-based analyst.


Mr Ramesh Kymal CMD of Games Wind Turbines sounded disappointed "There is nothing in offer for the renewable energy sector. Also extension of fuel subsidy and coal related incentives is negative for the renewable energy sector and energy security for India in the long run," he said.


India's blueprint for renewable energy is grand and includes plans for 20GW of solar power by 2022.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

New Energy Equity adds 326 kW of solar to municipal buildings in Norton Shores, Michigan

New Energy Equity, along with its development partner Chart House Energy, has completed a 326-kWDC solar development project consisting of three separate municipal buildings...

PG&E announces 387 MW/1,548 MWh of energy storage capacity in latest project announcement

Pacific Gas and Electric Company (PG&E) has requested approval from the California Public Utilities Commission (CPUC) for six new battery projects totaling 387 MW...

NEP releases 500-W microinverter for large-format panels

Silicon Valley-based Northern Electric Power Technology (NEP) has released a new 500-W microinverter. The company is calling it a “macroinverter” since it is able...

Solar investment tax credit extended at 26% for two additional years

Story updated Dec. 22 after successful passage of the bill by Congress. Extended renewable energy tax credits have been included in a $1.4 trillion federal...