The Ministry of New and Renewable Energy (MNRE) has set a target of capacity addition of 29,800 MW from various renewable energy sources during 12th Five Year Plan period. This was stated by Sh. Piyush Goyal, Minister of state for Power, Coal ">In reply to another question, Sh. Piyush Goyal stated that the Government is providing a range of fiscal and financial incentives for promotion of renewable energy under various schemes. These include capital and/or interest subsidy, 100 per cent tax holiday on the earnings for 10 years, generation based incentive, accelerated depreciation, financing solar rooftop systems as part of home loan, and concessional excise and custom duties, preferential tariff for power generation from renewables and National Clean Energy Fund (NCEF) support for on-lending to viable renewable energy projects by Indian Renewable Energy Development Agency (IREDA). In addition, foreign direct investment up to 100 per cent under the automatic route is permitted, the Minister added.
