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Use eco-friendly energy sources to avail tax benefits

Use eco-friendly energy sources to avail tax benefits


According to World Energy Outlook 2016, an estimated 1.2 billion people,that is, 16% of the global population does not have access to electricity. Many more suffer from supply that is of very poor quality. More than 95% of those living without electricity are in countries in sub-Saharan Africa and developing Asia, and they are predominantly in rural areas (around 80% of the world total). Therefore, the demand for low-cost power is expected to rise incrementally in the coming years.
The scenario in India is similar to the above situation. Presently,around 240 million Indians have no access to electricity. Out of which, 50 million are rural homes. For them, power still remains unaffordable, inadequate, or simply non-existent.Many cities and villages in India suffer from severe power shortage issues. There are many rural areas that hardly get 2-4 hours of power supply in a day. This power shortage creates many sufferings for families, students, and commercial activities.Hence, many people started considering alternate options to access a continuous supply of electricity throughout the day. Government has been taking initiatives to solve this issue through solar, wind, thermal, and nuclear powers. As a result, past few years has seen a rapid growth in the usage of solar power. The adoption of solar power in India has received also several recognitions globally too.
In June 2014, Ministry of New and Renewable Energy (MNRE), India came up with a Grid Connected Rooftop and Small Solar PowerPlants Program to meet the energy demand of the country. This was also an initiative to meet the challenge of climate change. The immediate aim of the mission was to focus on setting up an enabling environment for solar technology penetration in the country both at a centralized and decentralized level. This program has been considered as the prime reason behind the unbelievable growth of the usage of solar power in India. Services like- custom duty concession, excise duty exemption, tax holidays, and accelerated depreciation, for commercial and industrial sectors also helped to increase the solar power usage from 72 MW per year to 227 MW per year since 2013
According to Indian Brand Equity Foundation, in 2017, the Government of India announced a massive renewable power production target of 175,000 MW by 2022, which comprises generation of 100,000 MW from solar power, 60,000 MW from wind energy, 10,000 MW from biomass, and 5,000 MW from small hydropower projects. It is a fact that all these initiatives and plans undertaken by the government helped raise awareness about solar power systems.
Currently, India has around 1.2 million solar home lighting systems. These house owners are enjoying benefits like tax breaks and government subsidies along with other advantages like zero maintenance and inexpensive, uninterrupted supply of electricity. Solar systems/products are eco-friendly too. So adapting such practices helps consumers to reduce energy consumption and thereby improve the country’s energy security.
From lighting to heating, solar energy systems can be used for everything. There are different types of solar products available in the market today. Grundfos India recently launched Smart Solarz, a solar powered self-priming pump designed to cater to the specific needs of the Indian domestic consumer. It is a light-weight pump that is best suited for houses and buildings, which have a ground floor and maximum of two additional floors,(for their sump to overhead tank filling of water) in areas where the power supply is poor or not available. It is typically suited for rural and semi-urban towns and villages that are remotely located(for example tribal homes, schools, health centers.) For clean and green conscious home users, this pump is recommended for their farmhouses, beach homes. It can also be used in greenhouses, lawns, gardens, solar powered fountains and feeding livestock.
This pumpis a 150Wrated pump that operates with solar panels of 250W / 36V (open circuit) with features like dry-running protection.This pump operates on AC/DC power with an option of automatic switch-over to AC power through an adaptor if solar power is not available adequately.
You can live without electricity for a while, but no water in the household (kitchen or toilet) would be a problem. Therefore, a pump that can run on solar power is will not only help the homeowner but will help save the planet in the long run.

Source: Golinopinion
Anand Gupta Editor - EQ Int'l Media Network


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