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NEW DELHI: The idea of giving tax incentives for purchase of roof top solar panels will be taken up with Finance Minister Arun Jaitely, Union Minister Piyush Goyal said today
The suggestion of tax incentives came up through twitter during a 90-minute 'talkathon' with Power, Coal, New & Renewable Minister Piyush Goyal, Human Resource Development Minister Smriti Zubin Irani and Commerce and Industry Minister Nirmala Sitharaman.
"We will discuss the suggestion with Finance Minister Arun Jaitley who has special interest in green energy," Goyal replied when asked about any income tax incentive in the store for consumers buying roof top solar panel.
"It is good suggestion. People get some tax concession. There should be some cut in the interest rate (on loan for solar panel)," he added
The government is in discussions with banks to provide easy loans for clean energy measures like solar roof top installation, he said, adding that it is also possible that home loans in future will include finance for solar roof top.
"Urban Development Ministry will give some concession for making green buildings and ensure additional incentives for them. They may get concession in terms of making extra floors or get tax rebate," the minister said.
Government is targetting renewable energy capacity of 1,75,000 MW till 2022, comprising 1,00,000 MW Solar, 60,000 MW Wind, 10,000 MW Biomass and 5,000 MW Small hydro