Government grants fiscal & financial incentives for large scale generation of Renewable Energy

For large scale generation of Renewable Energy the Government is giving various fiscal and financial incentives, such as capital/interest subsidy, generation based incentives, accelerated depreciation, concessional excise and custom duties for the promotion of renewable energy sources in the country. The other initiatives to promote power generation from renewable energy are, setting up of demonstration projects, intensive resource assessment, development of power evacuation, testing facilities and manpower trainings and awareness raising among people.  

The Ministry of New and Renewable Energy (MNRE) has set a target of capacity addition of 29,800 MW from renewable energy sources during the 12th Plan period. This target comprises of 15,000 MW from wind, 10,000 MW from solar, 2,100 MW from small hydro and 2,700 MW from bio-power including waste to energy. MNRE has specified IEC/equivalent BIS standards for equipments/ subsystems/components used in the power plants in Renewable Energy sector.