India is incorporating another new legislative twist to help promote renewable energy: doubling the tax on ever metric ton of coal. With the country still heavily reliant upon coal, the tax increase could see more the government acquiring revenue to the tune of $1.2 million in a year.
This money will be used to fund solar panels and parks, including the development of four ultra-mega solar power plants. India will also supply funds to the development of an international sustainability bank established by the BRICS group to support renewable energy projects in the developing world.
If successful, South Africa could potentially implement this to curb its own coal usage while adding more renewable energy to its grid.
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