Scientific American (Chadha) - In a landmark announcement the Indian Finance Minister, in his annual Budget speech, put forward the proposal of setting of National Clean Energy Fund which would be constituted through tax lieved on coal usage in the country. The quantum of tax would be INR 50 per ton of coal used, which would generate an annual revenue of around $600 million.
Last year, the government also announced the National Mission on Energy Efficiency under which the most energy intensive industrial sectors would be required to energy efficiency certificates from the industries which have used less energy than the quota specified to them.
The mission includes setting up of two funds, one to provide guarantees to banks providing loans to energy efficiency projects and the other, to support investment in the manufacturing of energy-efficient products and provision of energy-efficiency services. The energy efficiency trading scheme would potentially generate transactions close to $15 billion by 2015.
Friday, March 5, 2010
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