Govt Plans Subsidy Cut For Solar Rooftop Projects

The government is planning to reduce the subsidy on rooftop solar projects by half, according to Piyush Goyal, the Minister for Power, Coal and New Renewable Energy.

In a written reply in the Rajya Sabha, Goyal said that the government is proposing to cut subsidy on solar rooftop to 15 per cent from the present level of 30 per cent. This cut in subsidy is being proposed in wake of limited funds at disposal and falling prices of solar panels.

The minister informed the house that the government has set a large target for rooftop solar power plants in the country. The government has an ambitious target of installing 100 GW of solar power capacity in the country by 2022 out of which 40 GW is to come from rooftop segment.

Goyal also mentioned about various initiatives and assistance in the form of concessional import duty or excise duty exemption, accelerated depreciation and tax holiday for setting up grid connected rooftop power plants.

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