SOLAR TAX BENEFITS

Pune is going the solar way.

The city is the second-largest market in terms of solar manufacturers and users in the country

The city has the ideal weather conditions for using solar devices. Currently, about 20 per cent of the houses in Pune are using solar water heating units. This percentage would increase because of the central and local government incentives mentioned below.

The solar water heaters are not expensive if we consider their long-term utility. One family has to spend approximately Rs. 25,000 for a solar water heater. The central government is promoting the installation of solar water heating systems through a soft loan scheme being operated through the Indian Renewable Energy Development Agency Ltd and banks.

The government also provides an interest subsidy, besides a 5% rebate on property tax. Capital subsidy is available for installation of solar water heating systems to registered institutions and commercial establishments.

Citizens can receive the benefits of this tax rebate by applying at the respective ward offices. One can submit the application on plain piece of paper along with photographs of solar system installed.