Karnataka Lead Indian States in Clean Electricity TransitionPolicy measures : the Karnataka Renewable Energy Policy (2022-27)
Karnataka will soon be the flag bearer of the country’s renewable energy sector as it is already the single largest ethanol production hub in Asia
- It provides for developing the State as a hub of renewable energy generation as well as manufacturing of equipment related to renewable energy.
- It also envisages upgrading the renewable energy generation capacity of the State to 10 GW in the next five years. This includes 1 GW of rooftop solar energy. Presently, the State has renewable energy generation capacity of 15,392 MW.
- It aims at developing Karnataka as the major exporter of renewable energy to other States by utilising the opportunities in the State for maximining renewable energy generation.
- The policy also envisages economic development of Karnataka by attracting investments in the field of renewable energy generation in a massive way.
- the new policy is focusing on creation of market for development of suitable storage capacity for the proposed increase in generation of the renewable energy. As part of measures to increase generation of renewable energy, the policy wants to promote floating solar and hybrid generation units in the hydel stations.
Solar Subsidy Yojana 2023
The Solar Rooftop Subsidy Yojana (SRSSY) is a government subsidy scheme for installing solar rooftop photovoltaic (PV) systems. The scheme is currently open to residential, commercial and industrial consumers. Under the scheme, the government provides a subsidy of 30% of the cost of installing a solar PV system, up to a maximum of ₹1 million (US$14,000). The SRSSY is part of the Indian government’s goal to install 100 gigawatts (GW) of solar PV capacity.
Solar Rooftop Subsidy Yojana Benefits
- Solar photovoltaic (PV) systems can help you save money on your electricity bills and protect you against rising utility rates.
- Solar PV systems are eligible for state and federal tax credits and rebates, which can further reduce the costs of installation and ownership.
- Solar PV systems have little or no maintenance costs, and they can last for decades with proper care.
- Solar PV systems increase the value of your home or business, making it a wise investment in addition to saving you money on energy costs.
- Solar PV systems produce clean, renewable energy that helps reduce our reliance on fossil fuels and protects the environment.
The Future of Solar Energy considers only the two widely recognized classes of technologies for converting solar energy into electricity — photovoltaics (PV) and concentrated solar power (CSP), sometimes called solar thermal) — in their current and plausible future forms.
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