The state government of Punjab has announced that it has released a draft version of the state’s renewable energy policy, with the key objective of obtaining 21 percent of its power requirements from renewable energy sources by 2030.
The policy has been drafted with a target of installing 3 GW of solar projects in the state by 2030, accompanied by 1.5 GW of non-solar renewable generation capacity comprising of biomass, biomass and bagasse co-generation, and small hydro. The draft details the distribution of the planned solar assets between utility-scale, rooftop, floating and hybrid style projects. However, the draft does not include any targets for wind energy generation, with the potential for the technology considerably low in the state.
The policy also aims to develop 500 MW of biofuel projects (based on biomass as the primary feedstock). Other targets include developing storage technology for renewable energy projects, promoting the use of electric vehicles (EVs), and solar charging stations. The Punjab Energy Development Agency (PEDA) has been designated as the implementing agency for the policy by the state government.
To boost the manufacturing of equipment used for solar generation like PV cells, wafers, modules, and balance of system (BoS) equipment, the policy has provided exemption on state goods and service tax (SGST), electricity duty, stamp duty, and property tax. The policy has also announced fiscal incentives for small hydel and canal-top solar projects.
PEDA is also expected to develop solar projects under state or central government policy on a turnkey basis. It will receive 5% facilitation charges from the concerned departments.
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