Tuesday, December 17, 2013: The Government is giving various fiscal and financial incentives, such as capital/interest subsidy, generation based incentives, accelerated depreciation, concessional excise and customs duties for the promotion of renewable energy sources in the country. The other steps to promote renewable energy are setting up of demonstration projects, intensive resource assessment, development of power evacuation and testing facilities etc.
A total amount of Rs. 690 crore has been allocated and an amount of Rs. 427.21 has been disbursed for various activities under the Jawaharlal Nehru National Solar Mission (JNNSM) during the current financial year 2013-14.
The Companies / project developers / implementing agencies, executing renewable energy projects, apply for incentives, from time-to-time, as per the terms and conditions of the schemes. The amount of subsidy claimed by them depends on size of the project, its location, and technology and implementation stage of the project.
There is no Special Incentive Plan implemented by the Ministry. To prevent misuse of funds, the Ministry obtains periodic physical & financial progress reports, utilization certificates & audited statements of expenditure. The Ministry also holds periodic meetings with the implementing agencies and undertakes random inspection visits to ascertain quality of project implementation and systems deployed. The Ministry also institutes independent evaluation studies for assessing impacts and proper implementation of programmes. This apart, the Ministry has appointed Senior Officers as focal points for close monitoring of programme in the States.
This information was given by the Minister of New and Renewable Energy Dr. Farooq Abdullah in a written reply in the Rajya Sabha.
