- Solar users in Manipur will be exempted from banking charges and cross-subsidy surcharges
- Loans of up to Rs 10 lacs can be availed by individuals under Priority Sector lending
- Companies that are undertaking solar projects are eligible for a 10-year tax holiday
There is a great potential available for generating solar power using unutilised space on rooftops. Manipur also has good potential for Solar Energy. There are almost 280-300 sunny days available in the State. This provides excellent potential for the installation of Rooftop Solar power plants.
Pool of incentives
In a bid to further encourage solar adaptivity, the government has announced different incentives, policies, and subsidies. Solar users in Manipur shall be exempted from banking charges and cross-subsidy surcharges, reported ET.
According to the news daily, Loans for the installation of solar systems can be availed as a part of home loan or home improvement loan. Also, loans of up to Rs 10 lacs can be availed by individuals under Priority Sector lending.
Commercial users are eligible to take loans up to 15 crores under the same. Not only that, companies that are undertaking solar projects are eligible for a 10-year tax holiday.
The Governor of Manipur has also adopted the “Manipur Grid-Interactive Rooftop Solar Photo-Voltaic (SPV) Power Policy, 2014” for promoting grid quality solar power generation. Also, the Ministry of New and Renewable Energy (MNRE) Govt. of India is providing Central Financial Assistance(CFA) up to 30% of benchmark cost for all types of residential buildings for the General Category States and up to 70% for the North Eastern States.