Solar Business worldwide has great political support. Even during the recession period many governments provided funding, subsidies and tax benefits. Leading nations are Germany, Italy, France, China, USA, Canada, India etc. The threat of climate change and obligations to reduce Green House Gas (GHG) emissions has put onus on each large country, including on India, to support renewable energy power generation vigorously.
Renewable Energy Share: In India out of total installed capacity of about 145000 MW, about 12500 MW is contributed by Biomass, Small Hydro, Wind and Solar energy. The nodal Ministry, MNRE, is proposing a new policy under "Solar Mission" already approved by Prime Minister of India, to introduce big incentives by way of low rates of interest (under 4% on Indian Rupee loans), high tariffs for Solar Power Generation Plant, Tax and Duty exemptions, capital subsidy etc. This policy is expected to be implemented in the year 2009 itself.
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