Budget 2019: Renewable energy industry gives mixed reaction

Budget 2019: Industry expectations in the solar power sector

While a majority of industry stakeholders anticipate tax reduction, better rate of interest, subsidies for developers in the Budget, others do not expect mega announcements with general elections around the corner.

New Delhi: The Indian solar energy sector has mixed expectations from the upcoming union budget. While a majority of industry stakeholders anticipate tax reduction, better rate of interest, subsidies for developers in the Union Budget 2019-20, others do not expect mega announcements with general elections around the corner.

Industry captains in the sector are hoping this year’s budget paves the way for achieving the ambitious solar targets agreed upon in the Paris agreement and the government should provide level-playing-field to solar developers.

The government could lower the interest rates and provide attractive long-term financing options to encourage more people to own and adopt renewable generation in view of the 100 Gigawatt solar capacity target and the larger aim to provide electricity for all, Ramnath Vaidyanathan, Chief Executive Officer (CEO) of solar developer WiSH Energy, a subsidiary of Bengaluru-based Enzen, believes. 

“We expect a reduction in taxes on renewable energy consumption in order to promote rooftop solar as well as usage in small micro commercial and retail establishments like kirana shops. The government may also introduce incentives for floating solar installations of a magnitude that offsets the cost of the floats for the initial time period until the market becomes more competitive,” Vidyanathan told ETEnergyworld.

New Delhi: The Indian solar energy sector has mixed expectations from the upcoming union budget. While a majority of industry stakeholders anticipate tax reduction, better rate of interest, subsidies for developers in the Union Budget 2019-20, others do not expect mega announcements with general elections around the corner.

Industry captains in the sector are hoping this year’s budget paves the way for achieving the ambitious solar targets agreed upon in the Paris agreement and the government should provide level-playing-field to solar developers.

The government could lower the interest rates and provide attractive long-term financing options to encourage more people to own and adopt renewable generation in view of the 100 Gigawatt solar capacity target and the larger aim to provide electricity for all, Ramnath Vaidyanathan, Chief Executive Officer (CEO) of solar developer WiSH Energy, a subsidiary of Bengaluru-based Enzen, believes. 

“We expect a reduction in taxes on renewable energy consumption in order to promote rooftop solar as well as usage in small micro commercial and retail establishments like kirana shops. The government may also introduce incentives for floating solar installations of a magnitude that offsets the cost of the floats for the initial time period until the market becomes more competitive,” Vidyanathan told ETEnergyworld. [ETEnergyworld. ]


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