Govt announces to set up 33 solar parks across India to reduce production cost of solar power

To reduce the production cost of solar power the government has announced to set up 33 solar parks across the country.

Power Minister Piyush Goyal on Thursday said Government will be setting up as many as 33 solar parks to reduce the production cost of solar power.

So far steps taken by the Government to reduce production cost of solar power includes fiscal and financial incentives in the form of accelerated depreciation, concessional/nil customs and excise duties, preferential tariffs and generation based incentives.

Speaking to PTI Goyal said “33 solar parks are sanctioned in various parts of the country to achieve cost reduction of solar power generation through economies of scale and combined power evacuation facility,” he further added.”Transparent E-reverse auction for procurement of solar power has already resulted in a price point of Rs 4.34 Kwh, almost at grid parity with the conventional sources of electricity.“