Climate Change, Green Products, Clean Technologies, Energy Efficiency to be Equally Weighed in Budget.

By Narsi Santhanam • Jul 6th, 2009 • Category: Clean Technology, Climate Change, Energy Efficiency, Renewable Energy

June 26, 2009

According to United Nations Environment Programme (UNEP) report, world-wide US$ 155 billion was invested in clean energy projects in 2008. Of this US$ 4.1 billion was invested in India, representing a 12% increase on the previous year. For this trend to continue and accelerate with the appropriate budgetary statements, the climate group’s advisors says

The upcoming budget should set climate change under the key spending areas, as it is doing for other areas like rural development, education and the social sector.
There is a need to rationalize energy taxes and direct subsidies to support weaker sections of the economy. This will help in stimulating a consumer shift to green products and services
Some of the provisions for accelerated depreciation could be expanded to include clean technologies which are yet to be covered under the Income Tax Act.
The Bureau of Energy Efficiency has come up with an energy labelling programme, which could support the up-take of energy efficient and renewable products through differential excise duty.
The CDM revenues scheme, as well as energy efficiency trading incomes, should be given tax breaks
Innovative financing schemes need to be introduced to promote energy efficiency and renewable energy penetration.

Source: www.theclimategroup.org

About the Author

Narasimhan (Narsi) has extensive experience in understanding renewable energy markets and strategic levers for success in these markets. His special focus has been his work on the Indian renewable energy industry. His work in the previous 15 years have spanned market and industry research, product management and international sales, and strategic consulting. see more http://www.eai.in/ref/team/ns.html

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