Su-Kam - Inputs shared by Mr Sanjeev Saini –Director (Technical)
India as a developing country has a tremendous potential for solar energy. As our nation is facing a void in demand - supply gap in energy, it is important to tap the solar potential to meet the energy needs. So, from this budget solar power industry expects that the Government should provide benefits in such a way that we can achieve the target of 40GW rooftop solar by the end of 2022. At the moment we have achieved about 1GW and thus to obtain the desired goal we need to go with at least 40X speed in the next 5 years. The government should also work towards providing more benefits to the individual customers and end-users in terms of tax rebate etc. to encourage them to switch to solar power back-up systems. The Solar power equipment (like solar invertors, UPS, charge controllers) should be brought under "zero" VAT/CST regime similar to solar panels, all across the country.
Further, we hope that the Retail lending facility through commercial banks for buying solar energy equipment should be made as easy as getting a consumer loan, in fact solar energy sector should be given of priority lending status. The interest paid on loans used for solar energy systems should be allowed as deduction from income while arriving (at) income tax for individual taxpayers as well.
The use of solar energy must be made mandatory for new construction through building by-law. We hope that the RPO should be implemented strictly by imposing penalties on non-implementation. All forms of tax, including CST, VAT and service tax should be waived off on the grid connected and off grid solar energy projects using indigenously manufactured system for a period of five years.
India as a developing country has a tremendous potential for solar energy. As our nation is facing a void in demand - supply gap in energy, it is important to tap the solar potential to meet the energy needs. So, from this budget solar power industry expects that the Government should provide benefits in such a way that we can achieve the target of 40GW rooftop solar by the end of 2022. At the moment we have achieved about 1GW and thus to obtain the desired goal we need to go with at least 40X speed in the next 5 years. The government should also work towards providing more benefits to the individual customers and end-users in terms of tax rebate etc. to encourage them to switch to solar power back-up systems. The Solar power equipment (like solar invertors, UPS, charge controllers) should be brought under "zero" VAT/CST regime similar to solar panels, all across the country.
Further, we hope that the Retail lending facility through commercial banks for buying solar energy equipment should be made as easy as getting a consumer loan, in fact solar energy sector should be given of priority lending status. The interest paid on loans used for solar energy systems should be allowed as deduction from income while arriving (at) income tax for individual taxpayers as well.
The use of solar energy must be made mandatory for new construction through building by-law. We hope that the RPO should be implemented strictly by imposing penalties on non-implementation. All forms of tax, including CST, VAT and service tax should be waived off on the grid connected and off grid solar energy projects using indigenously manufactured system for a period of five years.