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Published:Monday, February 03, 2020 5:41 PM

Union Budget 2020-21 highlights for Renewable energy

Union Budget 2020-21 highlights for Renewable energy

The finance minister announced that for the year 2020-21, INR 220 billion has been allocated for the power and renewable sectors.

The Union Budget for 2020-21 has provided for a budgetary allocation of Rs 2,516 crore for the solar power sector, including both grid-interactive and off-grid projects, a 10.35 per cent increase over Rs 2,280 crore provided in the Revised Estimate for 2019-20.
 
20% import duty on the Solar panels has been removed to boost solar Installation in country.
 
The allocation for grid-interactive solar power projects at Rs 2,150 crore accounts for 50.57 per cent of the total budgetary allocation of Rs 4,350 crore for renewable energy projects connected to the grid.
 
The budget has also provided for Central Financial Assistance for capacity addition of 7,500 megawatt of solar power in 2020-21.
 
Implementation of Ph-III of the off-grid solar PV programme, which covers installation of three lakh solar streetlights, distribution of 25 lakh solar study lamps and installation of solar power packs of total aggregated capacity of 100 MWp.
 
In addition, under AJAY Ph-II over three lakh solar street lights would be installed. Further 20MW Projects of Concentrated Solar Thermal will be undertaken.
 
The total allocation for the wind energy projects for the current financial year stands at Rs 1,303 crore.
 
The Generation Based Incentive Scheme for 4 GW wind power capacity will be commissioned in 2020-21.
 
15 lakh farmers would be provided funds to set up grid-connected 15 lakh solar pumps. And FM propose to expand the scheme to provide 20 lakh farmers for setting up stand-alone solar pumps.
 
The previous Modi government in February last year had unveiled the PM KUSUM scheme with an outlay of Rs 34,422 crore.
 
PM KUSUM aimed to add a solar capacity of 25,750 MW by 2022.

 

Union Budget proposed the setting up of large solar power capacity alongside rail tracks.

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