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If you have been following our last few blogs, you might have learnt more about the positive outcomes of going solar. We mentioned that it would be much more beneficial if you were a business owner. You can make the most of the different financial advantages. These are offered by the Indian Government.
The target set by the Ministry of New and Renewable Energy in India is to produce 40 GW of power by solar power by 2022. It is a pretty ambitious project. We must consider the awareness of the businesses regarding this unconventional form of energy. To promote solar usage, the Government has decided to incentivize businesses to use solar power.
Here are some monetary benefits that you can receive as a business. Contact a well-known solar company for better assistance in implementing solar power in your business.
1. Tax Benefits: It is by far the most important financial benefit that the Government offers you. This includes anti-dumping duty, sales tax safeguard and customs and excise duty exemptions. The businesses taking up solar power projects do not need to pay taxes for the first ten years. You will be able to recover around 40% of the expenses within the first year of application.
2. Capital Subsidies: The Government launched the capital subsidy to encourage solar power usage in rural and urban residential properties. You should watch out for SRISTI and SAUBHAGYA schemes to save money against rooftop solar panel installation.
3. Renewable Energy Certificates: These are tradable certificates awarded to those generating green energy. The beneficiaries receive incentives against every unit of green energy produced by them. It is mandatory to install rooftop solar panels. This can prove to be advantageous for the C&I sectors.
4. Net Metering Incentives: It includes a dual flow of electricity. You can utilise the electricity generated by your solar panel. You will receive a bill produced by DISCOM. It is a sustainable monetary benefit that can help residential and commercial property owners.
These are some monetary advantages that you can get through solar power. To make the most of it, you need the help of a well-known rooftop solar installer in Kolkata. You can communicate with KSL Cleantech Limited. We are one of the leading solar panel suppliers in Kolkata. We are known for building and operating PV and thermal solar plants. For more details, you can visit our website today.
