Thursday, December 4, 2014: The Ministry of New & Renewable Energy has announced excise duty exemption certificates (EDECs) with immediate effect for the solar power developers setting up off grid solar photovoltaic power projects for all the roof top solar projects with minimum capacity of 100KW.
This will perhaps help in reducing the overall project cost while also making the solar panels cheaper for the end consumers. The statement of MNRE stated that to meet the demand of off grid projects, they have developed a satisfactory manufacturing capacity in domestic market and will also issue EDECs to encourage domestic manufacturing.
According to the statement, “Solar power developers have been approaching this Ministry for grant of duty benefits under the notifications issued by Ministry of Finance (Deptt. of Revenue). They have been emphasizing the need to extend the above exemption to all the solar power plants being set up under the Off-Grid so as to bring down the cost of Off Grid projects and thereby the cost of generation. After examination of various issues involved, it has been decided to give Excise Duty Exemption Certificates (EDECs), with immediate effect.”
