The policy, which was notified on Thursday, came into force with immediate effect.
As per the policy, the consumer and the producer of solar power will be entitled to avail benefit in the form of 50 per cent subsidy from the state government, a senior
official said on Friday.
The policy also provides for penalty equal to five per cent of the value of energy committed every day, if power producer fails to complete and commission the project within
the given deadline, he said.
It mentions that technological improvements have made generation of solar energy economically viable and would lead to reduction in expenditure of the state for purchase of
conventional power from the grid.
Under the policy, the government will provide 50 per cent subsidy, including 30 per cent share from the Centre, for the capital cost or the benchmark cost provided by the
Ministry of New and Renewable Energy (MNRE) or cost arrived through tendering process by the Goa Energy Development Agency (GEDA).
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