Bids closed this Monday for participation in the 750MW REWA Mega Solar Park and we hear the response was overwhelming with more than 20 solar developers vying for over ten times the bid capacity. Solar in Madhya Pradesh wasn’t always considered a good investment, so what made the REWA project so attractive? Here are the key features that make the REWA solar park a sweet deal for offtakers and investors alike.
Dramatically low solar tariffs have been creating the stir in news since the Solar Energy Corporation of India (SECI) released it’s bid results in late November. Agencies have been reporting that Solar Power tariffs touched a record low of Rs. 3/unit. While this sounds like great news, it is only the partial truth. Here is the complete understanding of solar power tariffs discovered as part of SECI’s 500 MW tender.
With GST kicking in to benefit the economy in the long run, all of us have secretly been a bit apprehensive about its implementation. We have been worried about paying more to get the same things. Of course, for some goods, prices may fall with GST. However, from what has been doing the rounds, prices of solar in all likelihood will not, considering it has been tax free in some states in any case till now. (more…)
On Wednesday, the Rajya Sabha passed the GST bill, moving one step closer to making GST a reality. While GST has been widely touted as a positive reform for the Indian economy in general, we explore how GST will specifically impact the Solar Industry.
1. Current and Proposed Tax Scenario
Currently, different tax rates are applicable depending on the nature of procurement. Generic Excise duty rate is 12.5%, Service tax is 15%, Import Duty is 29.4% and VAT 5%-14%. All such rates could be reduced/ exempted basis the actual nature of goods and purpose, depending on state, by using C forms and by availing concessions.
Proposed GST Taxes
Below are the approximate rates for different types of GST or Goods and Service Tax.
|State GST/ SGST||10%|
|Central GST/ CGST||20%|
2. GST- The Upside
2.1 Greater Clarity on Interstate Transactions
From Abu Dhabi to Abu Dhabi via Ahemdabad, Hawaii and New York- 40,000 kms in 500 hours, over 506 days with over 17,000 solar cells.
In July 2015, Sunkalp Energy had analyzed the technical specs of a very special plane. Now just over a year later, the Solar Impulse II has broken another record by flying around the World “without fuel”. Here’s our take on what the Solar Impulse’s achievement means for mankind. (more…)