The government has approved the proposed amendments to the Achievement-linked Incentives and Awards program for grid connected rooftop and small solar power projects. These amendments will come into effect on April 3, 2017.
The program will be applicable to all government institutions and public sector units (PSU), according to a government release.
For projects developed under the RESCO mode, the incentive amount will be up to 25 percent of the benchmark cost for general category states and union territories, and up to 60 percent of the benchmark cost for special category states and union territories.
The project commissioning timeline is 15 months for general category states and union territories, and 18 months for special category states and union territories. A minimum of 40 percent of the approved capacity must be installed to benefit from the incentives. No extensions will be given beyond the approved timeline.
Raj Prabhu is a recognized thought leader in clean energy markets where his work has influenced policies worldwide. He has a deep understanding of regulatory policy and clean energy markets and his market and opinion pieces are regularly published on both MercomIndia.com and other leading publications globally. Raj is also a regular speaker and presenter on clean energy policy and finance topics at conferences worldwide. Raj attended the KLE College of Science in Bangalore, India for physics and chemistry, and holds a Bachelor of Science Degree in Hotel and Institutional Management from Johnson and Wales University, Rhode Island. More articles from Raj Prabhu.