India to invest $753.5 million in solar rooftopsStaff writer ▼ | December 30, 2015
The Cabinet Committee on Economic Affairs in India approved the scaling up of budget from Rs, 600 crore to Rs. 5,000 crore ($753.5 million) for grid connected rooftops systems.
Grid connected systems A big boost for green energy in India
The capital subsidy of 30% will be provided for general category States/UTs and 70% for special category States i.e., North-Eastern States including Sikkim, Uttarakhand, Himachal Pradesh, Jammu & Kashmir and Lakshadweep, Andaman & Nicobar Islands.
There will be no subsidy for commercial and industrial establishments in the private sector since they are eligible for other benefits.
This capacity of 4200 MWp will come up through the residential, Government, Social and institutional sector. Industrial & commercial sector will be encouraged for installations without subsidy.
The government has revised the target of National Solar Mission (NSM) from 20,000 MWp to 1,00,000 MWp by 2022. 40,000 MWp is to come through grid connected solar rooftop systems. ■