Bangladesh has announced a major solar energy incentive package, including a 0% tax rate for the solar power sector until 2035 and a 5% rebate on consumer solar electricity payments. The policy also removes import and other duties on key solar components to boost investment and support the country’s renewable energy targets for 2030 and 2050.
The government of Bangladesh on Thursday announced a major policy package to accelerate solar power development, including a zero per cent tax rate for the solar power sector until 2035.
In addition, a 5% tax rebate will be provided on payments made against consumers’ solar electricity bills.
The initiative aims to attract investment into the solar power sector as part of the government’s plan to generate 20% of total electricity demand from renewable energy sources by 2030, and between 30% and 50% from clean energy by 2050.
Finance Minister Amir Khosru Mahmud Chowdhury, while presenting the national budget in parliament on Thursday, announced a new notification reducing import duty, regulatory duty, supplementary duty, and advance tax on essential solar power components to 0%.
