Government asks states to submit solar policies

Renerwable Energy Minister Piyush Goyal has asked all states to submit their solar policy to the Ministry of Natural Resources and Environment (MNRE).

Goyal told the Lok Sabha that so far 14 states have issued their solar policies. He further added that a draft “model solar energy policy” has been sent to all states guiding them to how to meet their clean energy targets.

Goyal said that MNRE has sanctioned 348 MW of new grid-connected rooftop PV projects across India, stating further that the renewable energy sector’s complete potential was still untapped. He said the government is looking to produce 897 GW of power through renewable means. So far, it has sanctioned 749 GW to be produced from solar energy, 103 GW from wind energy, 25 GW from bio-energy and 20 GW from hydro power. To make India a hub for renewable energy manufacturing, Ministry of New and Renewable Energy (MNRE) has been promoting private investment in renewable energy through an attractive mix of fiscal and financial incentives. This includes capital subsidy through Modified Special Incentive Package Scheme (M-SIPS) and excise and custom duty exemption. The Government is encouraging participation from other countries by allowing 100% Foreign Direct Investment in Renewable Energy.