WRT: http://groups.yahoo.com/group/mukto-mona/message/49140
Thank you Mr Ray for this very pertinent post at a time when
countries across the world are looking at their own energy security
by exploiting renewable energy sources. There are a few things that
the writer of this article leaves out, though. India is, as far as I
know, the only country in the world that offers 100% depreciation on
capital equipment used in generating electricity for captive use or
for supply to the national grid in 1 year of operation. No other
country in the world offers this as far as I know. Also, there is
100% duty exemption on the import of capital equipment for this
purpose, something that any entrepreneur who wishes to participate in
this industry, would do well to consider.
There are also some good plans being implemented elsewhere in the
world that India could try to emulate - the country is, of course,
exposed to sufficient sunlight that could be harnessed year round and
an example to emulate would be the California Million Solar Roof
Initiative which aims at putting solar collectors initially on the
roofs of all government owned buildings in that state and then on all
private properties whose owners are similarly interested in
participating in this program. There are also large scale Solar
Thermal Energy Conversion Systems being installed in Nevada and
Arizona and these would soon be set up in California as well. All of
these would work very well in India if there were a proper plan to
work in this area. Among professional bodies in India working towards
this goal, I wholeheartedly recommend the Society of Energy Engineers
and Managers of India who are working hard to put their message
across - they deserve a much greater sudience than they have at the
moment.
There are also some state initiatives that are to be commended though
I am not aware of any that have actually seen participation. The
Haryana Energy Development Authority has offered to buy electricity
generated from solar powerplants at RS 15.96 per unit and in
neighboring Punjab, PEDA is set to follow the Haryana example. There
are also large loans offered by the US Exim Bank through the State
Bank of India, Punjab National Bank, IDBI, SIDBI etc for the sale of
capital equipment related to renewable energy and I know that they
have allocated $ 2.2 billion for India alone. With the overwhelming
strength of the RUpee over the dollar at the moment, it would be a
good idea for entrepreneurs in India to look at buying solar
equipment from the USA these days instead of sending India's hard-
earned money to the Gulf to buy oil and burn it.
Thank you very much again for a very timely and pertinent to the
times post,
Mehul Kamdar
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