Government is being urged to further reduce taxes on solar panels to enhance the growth of off-grid energy sources to address challenges confronting the energy sector.<\/p>\n
[contextly_sidebar id=”VtQ5eYEZppFLzCINmkeA44jOBBq3SC84″]This is the appeal of some corporations involved in funding the energy sector.<\/p>\n
According to them, even though there has been a reduction in cost of solar panels, the increasing tax components on their imports limit their widespread use.<\/p>\n
Speaking to Citi Business News<\/strong> at a workshop for some beneficiaries of Power Africa\u2019s funding for businesses in the energy sector, the Managing Partner for the US African Development Foundation (USADF) in Ghana, Christoph Anagbonu said,<\/p>\n \u201cNow the costs of solar panels are coming down, if the tax elements on these panels can be reduced drastically, or even taken off, that will reduce the cost of the panel used in the designing of some of the projects.<\/p>\n He added, \u201cA research conducted revealed that people complained about the initial capital involved in undertaking off grid projects such as solar systems. It is all about the components that they are using, so they require tax incentives either a waiver completely or a reduction in how much they are expected to pay.\u201d<\/p>\n The USADF, USAID and General Electric (GE) Africa have since 2013 provided about $300,000 funding support to seven companies involved in the provision of off-grid energy solutions.<\/p>\n Although USADF\u2019s Regional Director, Tom Coogan says the move will not ultimately end the continent\u2019s power challenges, he is optimistic of its contribution to significantly reduce the power challenge,<\/p>\n \u201cThe target by President Obama to expand the continent’s power capacity by 30,000 megawatts with 60 million new connections was a realistic one. However, that won\u2019t end the crisis but would significantly contribute to the solution,\u201d<\/p>\n \u201cOther partners include the DFID in the UK are helping to make significant inroads with regards to the energy challenge in Africa.\u201d He stated.<\/p>\n Tom Coogan was also hopeful that the project will be sustained by successive governments even as a new government takes over in 2017.<\/p>\n \u201cThis is a presidential initiative that we expect to be carried on by other governments, the Millenium Challenge Account (MCA) was started by President George Bush but President Obama is still continuing it\u2026Both Republicans and Democrats support this cause so we fully expect that whoever wins will be carrying on the project,” he observed.<\/p>\n –<\/p>\n By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" Government is being urged to further reduce taxes on solar panels to enhance the growth of off-grid energy sources to address challenges confronting the energy sector. [contextly_sidebar id=”VtQ5eYEZppFLzCINmkeA44jOBBq3SC84″]This is the appeal of some corporations involved in funding the energy sector. According to them, even though there has been a reduction in cost of solar panels, […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,171,11],"tags":[],"class_list":["post-209024","post","type-post","status-publish","format-standard","hentry","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/209024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=209024"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/209024\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=209024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=209024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=209024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}