ONergy’s Take on Union Budget 2018-19 for Solar Energy

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The emerging name for solar solution in Pan India, ONergy Solar has embarked on the vision of sustainable future by solarizing India since nine long and successful years. ONergy Solar, an integral part of ON Conglomerate provides complete solar solutions to households, communities and institutions. It provides design, engineering, manufacturing, installation, O&M solutions for solar rooftop power plant, solar irrigation pumping, solar lighting and microgrids. We have setup a range of solar solutions with over 50,000 installations in partnership with Government, Commercial / Rural Banks, Leading NGOs and MFIs – through its proprietary network of Renewable Energy Service Centers (RECs) with the strong mission to impact and provide solar energy to 10 million lives by 2023.

Amidst several hue and cry in India over the union budget for renewable energy, ONergy’s approach towards it is very positive and ONergy is ready to encash on the facility Government has given to the farmers with heavy dose of funding in the budget for ‘KUSUM’ (Kisan Urja Suraksha Utthaan Maha Abhiyaan) scheme. The refreshed version of the ongoing scheme doubles to 60% from 30% currently the subsidy for buying solar pumps. So the farmers can make extra buck or two by switching to solar power for running irrigation pumps and selling surplus power to discoms. ONergy has always focused on Onergising agriculture by installation of solar irrigation pumps in different regions of the country and with government’s support towards the farmers we will definitely be benefited from major shift of the agrarian industry to equitable energy source. The refreshed scheme envisages spending Rs 48,000 crore over the next 10 years to wean farmers away from diesel-run pumps and also convert grid-connected irrigation pumps to solar power for ensuring clean, reliable operation and the scheme entails Rs. 1.4 lakh crore roadmap to turn farmers into generators of solar power, which they can use to run their pumpsets. The Times of India (Mumbai edition) has stated, “The scheme will allow farmers to put barren land to profitable use by allowing construction of solar power projects on them. Altogether, 10,000 MW solar power capacity is envisaged to be built under the scheme.” ONergy will extend all support to the farmers to bank on solar power soon for extra buck.

Despite this positive outlook to the solar energy in case of the solar water pumps the rest of the union budget of 208-19 for renewable energy is a disappointed show since there was no clarity offered on topics like Anti-Dumping and customs duty on solar cells and modules instead of this Government reiterated its plan for smart cities and utilization of solar. In the phase of growing uncertainties in the domestic market, the industry was hopeful for a few subsidies and incentives but to the industry’s dismay, no specific incentives, subsidies or grants were announced for the Ministry of New and Renewable Energy (MNRE).

In spite of the fact that the budget has taken the shine away from the solar industry, ONergy has a positive buoyant take on this. We are eager to maximize the opportunity on solar-powered pumps as the Government has also directed the state to purchase surplus power produced by farmers using solar-powered pumps. Overall though the budget has been a missed opportunity, with its paramount focus on farmers, the budget is expected to boost up the rural consumption which in turn will help India to achieve its much higher GDP forecasts for the next year.

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