Solar cells (PVs)

Solar  cells  are  also  called  “photovoltaic  cells”  or  simple  PVs;  they  get  this
name from the fact  that photons (light)  interact  in  the  cell  to  caused  electrons to
flow to metal plates, so they produce a voltage.  We’ll discuss how they do this in
the  next  chapter,  on  quantum  physics.  Traditional  solar  cells  were  based  on
crystals  of  silicon,  and  they  typically  converted  about  10%  of  the  sunlight  to
electricity.  For a  1 Gigawatt plant, when the sun is directly overhead, that would
require 10  square kilometers  of  these  cells.   Traditional  solar  cells  cost about $3
per  installed watt, and  so  are  not really  considered  competitive  with  fossil fuels.
These are the kinds being installed by homeowners, sometimes because they think
they  are saving  money, but more often  because  they want to reduce the CO2
that they are personally responsible for.  But the field is advancing rapidly.

One  of  the  truly  hopeful  developments  in  recent  years  has  been  the
development  of  highly  efficient  solar  cells.  These  are  complex  devices  because
extracting  as  much  energy  as  possible  out  of  sunlight  requires  having  separate
layers  to  convert  different  colors.  These  sophisticated  solar  cells  are  now  being
built,  and  one  major  producer,  Boeing  (yes,  the  airplane  company;  it  started
producing solar cells  when  they  were needed for space) is selling solar cells that
convert  41%  of  the  incident  sun  power  to  electric  power.  They  say  that  the
efficiency should rise to 45% in the near future. Wow!

There  is  a  catch,  of  course.  Even  when  purchased  in  large  quantities,  these
special cells cost  about $10  per  square centimeter;  that’s equal to $70  per square
inch, or about  $10,000  per square  foot.  A foot-sized  cell  would yield  41 watts—
not  much for  the $10,000  investment.  Why  do I  call  this hopeful?  The  reason is
that sunlight (if there are no clouds) can be focused using a lens or mirror. You can
make  a  plastic  lens that  is 1  foot  square  for  less  than  $1  and  use  it  to  focus  the
sunlight onto a cell 0.4 inch on a side. A cell of that size costs $10. Your total cost
for  the  41 watts  is  now reduced  to $10,  plus  $1  for  the  lens, plus  whatever  you
spend to build the module. That sounds very attractive. The  tricky part is that you
have to keep the cell pointed at the sun, and that requires a  mechanical system.  If
our goal is to spend no more than $1  per installed watt, then  the total cost for the
square-foot  device must  be  less  than  $41.  Can  that  be  done?  It  is  not  obviously
impossible, and several companies in California are already building such systems
to see if they can be cost-effective. Even if it costs three times that, this system still
becomes the cheapest form of solar power.
This  approach  is  called solar concentrator technology. Its  greatest drawback
is  that it  works  only on  sunny  days, when  the  sun is  visible and its  rays  can  be
focused.  Imagine  now  an  array  of  foot-sized  concentrator  solar  cells  covering  a
square mile of sunny Nevada. Since  there are 5280 feet in a mile, there  would be
5280    5280  =  27,878,400  modules.  Each  module  would  be  only  a  foot  high,
making  the system  quite robust  against wind. Driven  by tiny electric motors,  the
modules would all point in the same direction: toward the sun. With 41 watts from
each,  the  total  electric  power  output  at  midday  would  be  over  a  gigawatt.    Of
course,  there  may  be  other  expenses,  such  as  keeping  the  reflectors  clean.    In  a
recent trip to Nevada I found that much  of the region  I visited had over a foot of
“bug dust” that whirled around every time the wind blew.

Another  hopeful  developing  are  cheap  solar  cells  made  without  growing
crystals;  these  are  called  “amorphous”  (non-crystalline)  cells.    There  is  much
excitement over a particular kind called CIGS.  (The  letters stand for the  elements
that  go  into  the  material:  Copper  Indium  Gallium  and  Selenium.)      CIGS  are
manufactured  using  a  technique  similar  to  that  of  an  ink-jet  printer:  they  are
basically sprayed on a piece of plastic.  CIGS have already achieved an efficiency
of  19%,  and  enough  people  are  convinced  of  their  future  that  factories  costing
hundreds  of  million  of  dollars  are  under  construction  to  build  CIGS  cells.    For
business reasons, many of the details have not yet been released; as of April 2008
(when  I  am writing  this) these companies  have not  released  a  public number  for
the  price  at  which  they  will  sell  their  cells.    The  price  may  be  determined  by
competition,  since  sales  of  the  cells  will  have  to  pay  back  the  huge  investment
being  put  into  these  plants.    And  people  worry  that with  huge  numbers  of  solar
cells being built, that the world will not be able  to  supply  enough gallium for the
cells!  But optimism in the solar energy business  is rampant.  Many  investors are
jumping in.  They believe the future of solar is sunny.

Formation of companies with charitable objects, etc.

(1) Where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be registered under this Act as a limited company—

(a) has for its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity or any such other object;

(b) shall apply its profits, if any, or other income in promoting its objects; and

(c) prohibits the payment of any dividend to its members,

the Central Government may, by licence issued in the manner as may be prescribed, and on such conditions as it deems fit, allow that person or association of persons to be registered as a limited company under this section without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited” or the letters and word “OPC Limited”, and thereupon the Registrar shall, on application, register such person or association of persons as a company under this section.

(2) The company registered under this section shall enjoy all the privileges and be subject to all the obligations of limited companies.

(3) A firm may be a member of the company registered under this section.

(4) A company registered under this section shall not alter the provisions of its memorandum or articles except with the previous approval of the Central Government.

(5) Where it is proved to the satisfaction of the Central Government that a limited company registered under this Act or under any previous company law has been formed with any of the objects specified in clause (a) of sub-section (1) and with the restrictions and prohibitions as mentioned respectively in clauses (b) and (c) of that sub-section, it may, by licence, allow the company to be registered under this section subject to such conditions as the Central Government deems fit and to change its name by omitting the word “Limited”, or as the case may be, the words “Private limited” or the letters and word “OPC Limited” from its name and thereupon the Registrar shall, on application, register such company under this section and all the provisions of this section shall apply to that company.

(6) The Central Government may, by order, revoke the licence granted to a company registered under this section if the company contravenes any of the requirements of this section or any of the conditions subject to which a licence is issued or the affairs of the company are conducted fraudulently or in a manner violative of the objects of the company or prejudicial to public interest, and without prejudice to any other action against the company under this Act, direct the company to convert its status and change its name to add the word “Limited” or the words “Private Limited” or the letters and word “OPC Limited”, as the case may be, to its name and thereupon the Registrar shall, without prejudice to any action that may be taken under sub-section (7), on application, register the company accordingly:

Provided that no such order shall be made under this sub-section unless the company is given a reasonable opportunity of being heard:

Provided further that a copy of every such order shall be given to the Registrar.

(7) Where a licence is revoked under sub-section (6), the Central Government may, if it is satisfied that it is essential in the public interest, order that the company be wound up under this Act or amalgamated with another company registered under this section.

(8) Where a licence is revoked under sub-section (6) and where the Central Government is satisfied that it is essential in the public interest that the company registered under this section should be amalgamated with another company registered under this section and having similar objects, then, notwithstanding anything to the contrary contained in this Act, the Central Government may, by order, notified in the Official Gazette, provide for such amalgamation to form a single company with such constitution, properties, powers, rights, interest, authorities and privileges and with such liabilities, duties and obligations as may be specified in the order.

(9) If on the winding-up or dissolution of a company registered under this section, there remain, after the satisfaction of its debts and liabilities, any assets, they may be transferred to another company registered under this section and having similar objects, subject to such conditions as the Tribunal may impose, or may be sold and proceeds thereof credited to the Rehabilitation and Insolvency Fund formed under section 244.

(10) A company registered under this section can amalgamate only with another company registered under this section and having similar objects.

(11) Where a company makes any default in complying with any of the requirements laid down in this section, the company shall, without prejudice to any other action under the provisions of this section, be punishable with fine which shall not be less than ten lakh rupees but which may extend to one crore rupees and the directors of the company and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years or with fine which shall not be less than twenty-five thousand rupees but which may extend to twenty-five lakh rupees, or with both.

Commencement of business, etc.

(1) A public company having a share capital shall not commence any business or exercise any borrowing powers unless—

(a) a declaration is filed by a director or subscriber in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him; and

(b) the company has filed with the Registrar a verification of its registered office in the manner as may be prescribed.

(2) If any default is made in complying with the requirements of this section, the company shall be punishable with fine which may extend to five thousand rupees and every officer who is in default shall be punishable with fine which may extend to one thousand rupees for every day during which the default continues.

(3) Where no declaration has been filed with the Registrar under clause (a) of sub-section (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub-section (2), initiate action for the removal of the name of the company from the register under Chapter XVIII.

Appointment of Directors.

 (1) Where no provision is made in the articles of a company for the appointment of the first directors, the subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed in accordance with the provisions of this section.

(2) Save as otherwise expressly provided in this Act, every director shall be appointed by the company in general meeting.

(3) No person shall be appointed as a director of a company unless he has been allotted the Director Identification Number (DIN) under section 135:

Provided that a person may be appointed as a director, if an application for the allotment of a DIN has been made to the Central Government under section 134 and the same is pending with the Central Government and he may hold the office of a director till such time that person is allotted DIN.

(4) Every person proposed to be appointed as a director by the company in general meeting or otherwise, shall furnish his DIN and a declaration that he is not disqualified to become a director under this Act.

(5) A person appointed as a director shall not act as a director unless he gives his consent to hold the office as such director and such consent shall be filed with the Registrar within such time and in such manner as may be prescribed:

Provided that in the case of appointment of an independent director, the Board shall also give a report in the general meeting that in its opinion he fulfils the conditions specified in this Act for such an appointment.

(6) Unless the articles provide for the retirement of all the directors at every annual general meeting, not exceeding one-third of the total number of directors of a public company shall be liable to retire, and out of the remaining, one-third shall retire by rotation at every annual general meeting in accordance with such procedure and principles as may be prescribed and such retiring directors shall be entitled to be re-appointed.

(7) Where a company fails to re-appoint a retiring director or to appoint any person as a director in place of the retiring director at any general meeting, such appointment shall be made at any adjourned meeting within such time and in accordance with such procedure as may be prescribed.

 

Explanation.For the purposes of this Chapter, “appointment” of a director includes his re-appointment.

Title:

Appointment of Directors.

articles of a company

(1) The articles of a company shall contain regulations for the company.

(2) The articles shall also contain such matters, as may be prescribed:

Provided that nothing prescribed in this sub-section shall be deemed to prevent a company from including such additional matters in its articles as may be considered necessary for its management.

(3) The articles may contain provisions for entrenchment to the effect that specified provisions of the articles may be altered only if conditions or procedures as that are more restrictive than those applicable in the case of a special resolution, are met or complied with.

(4) The provisions for entrenchment referred to in sub-section (3) shall only be made either on formation of a company, or by an amendment in the articles agreed to by all the members of the company in the case of a private company and by a special resolution in the case of a public company.

(5) Where the articles contain provisions for entrenchment, whether made on formation or by amendment, the company shall give notice to the Registrar of such provisions.

(6) The Central Government may prescribe model articles for different types of companies.

(7) Nothing in this section shall apply to the articles of a company registered under any previous company law unless amended under this Act.

Title: articles of a company

Global warming facts – Arctic

Arctic ice sheet is reacting very fast to global warming.

Arctic is rapidly losing its ice because of global warming.

As the temperatures continue to grow Arctic ice really has no chance for regrowth.

In early August 2008 famous and 4500 years old Arctic’s Markham Ice Shelf separated because of higher temperatures.

Arctic ice sheet is today the smallest since modern measurements started in 1978.

One or few cold winters are not enough to prevent Arctic from further melting.

The most important ice, perennial ice now covers less than 30 % of the Arctic.

According to certain scientific studies Arctic will lose all its ice by 2040 if global warming continues its current trend.

The most worrying fact on Arctic is that the oldest and the most thickest ice is continuing its rapid melting.

More than 965,000 square miles of perennial ice have been lost on Arctic because of global warming.

Perennial ice used to cover more than 50 % of Arctic, today it covers less than 30 % because of global warming.

Melting of Arctic ice contributes to global warming because reflective white ice once melted gets replaced by dark water that absorbs the Sun’s heat.

Regulation of greenhouse gases – Starting point to tackle climate change?

Barack Obama’s climate chief said rather optimistic statement how the US Environmental Protection Agency (EPA) will regulate carbon dioxide emissions from coal-fired power stations. Coal is still dominant energy source in United States, and the ones mostly responsible for US greenhouse gas emissions. This will be very interesting because among the last things George Bush did in the White House was memo that said that carbon dioxide emissions need not be considered when approving applications for new power plants.

EPA will try to overrule this memo by looking at a ruling from a Supreme Court in 2007 that requires the agency to decide whether CO2 emissions are a danger to public health and ” will make an endangerment finding”. If EPA actually does this then this could make a real difference in US ambitions to reduce greenhouse gas emissions. On the other hand it will be interesting to find out how powerful coal lobbies really are because with this many coal-fired power plants are highly unlikely to receive the go-ahead without developing Carbon Capture and Storage (CCS) technology.

There are already many concerned voices in industry claiming that this will have terrible economic consequnces for global US economy because to many people profits are still much more important than environment and health of our planet. For this reason this is a very delicate situation for Obama, as in the times of global financial crisis he would have to find the solution that would at least partially satisfy both environmentalists as well as the industry. World has become aware that our future looks anything but happy without reducing greenhouse gas emissions but there will be lot of obstacles in the road ahead, most in form of different industrial lobbies that will very likely use all of their arsenal to prolong the fossil fuel dominance in order to maintain high profits.

One thing is sure though, without the regulation of greenhouse gases on global scale world is really without the chance to tackle climate change and global warming.

DEDUCTIONS FROM INCOME FROM HOUSE PROPERTY (SECTION 24)

Assessment year 2002-2003 incme chargeable under the head “incme from house property” shall be computed after making the follwing deductions, namely;

(a) standard deduction:a sum equal to thirty per cent of the annual value;

(b) interest on money borrowed: where the proterty has been acquired, constructed, repaired, renewed or reconstructed with bowwowed capital, the amount of any interest of any interest payble on such capital;

However, in respect of property referred to in Section 23(2); the amount of deduction shall not exceed Rs. 30000.

Further, where such propery is acquired or constructed with capital borrowed on or after 1.4.1999 and such acquisition or construction is completed before 1.4.2003, the amount of deduction under this cluse shall not exceed Rs.150000.

However, if the money borrowed for the purposes of acquisition, construction, repairs etc. of house property is not utilized for the same purposes, deduction cannot be claimed for the interest amount due and my deduction already climed will be withdrawn by reassessment under this Act.

SHORT-TERM AND LONG –TERM CAPITAL GAINS

Any capital gain arising as a result of transfer of a short term capital asset is know as short term capital gain. According to section 2(42A) of the income tax act.

‘short-term’ capital asset means a capital asset hheld by an assessee for not more than thirty six months immediately preceding the date of its transfer. In the case of capital for not more than 12 month immediately prior to its transfer.

Asstes other than short term capial assets are know as long term capital asstts and the gains arising therefrom are know as long term capital gain. Note that with effect from assessment year 1988-89, a share,equityor preference held by an assessee would be regarded as a long term capital asset if the ownership is for more of holding is determinable subject to any rules made by CBDT.

GAIN ON TRANSFER:-
What is sought to be taxed under section 45 is the profit or gain arising from transfer of a capital asset. The exact method of computing the capital gain in section 48 is dealt with later in this study.

VARIOUS ADVANTAGES OF INTRODUCING VAT:

- to encourage and result in a better-administered system;
to eliminate avenues of tax evasion;

- to avoid under valation at all stages of production and distribution;

- to clim credit on tax paid on inputs at each stage of value addition;

- do away with cascading effect resulting in non distortion of the business decisions;

- permits easy and effective targeting of tax rates as a result of which the exports can be zero-rated;

- to help our country to integrate better in the WTO regime;

- to stop the unhealthy tax- rate war and trade diversion among the states, which a=had adversely affected the interests of all the states in the past.

- Contribution to fiscal consolidation for the country. As a steady source of revenue, it shall reduce the debt burden in due strategies

VAT LIABILTY

The vale added tax(vat) is based on the value addition to the goode and the related vat liability of the dealer is calculated by deducting input tax credit from tax collected on sale during the payment period(say,a month).

The white paper specified that registration under the vate act is not compulsory for the small dealers with gross annual turnover not exceeding Rs.5 lakh, however, the empowered committee of state finance ministers has subsequently allowed the states to increase the threshold limit for the small dealers to Rs.10 lakh, but the concerned states will have to bear the revenue loss on account of increase in the limit beyond Rs. Lakh.

Vat is so designed that high vale taxpayers are not spared and on the contrary small dealers are also hassle free from compliance procedures.

SERVICE TAX REGISTRATION DETAIL

REGISTRATION
Section 69 of the finance act, read with rule 4 of the service tax rules make provisions relating to registration. It is mandatory for every person liable to pay service tax to get registered with cuperindent of central excise. A person providing a taxable service is liable to pay service tax in terms of section 68.

Who shall apply?
an application for registration to the superintendent of central excise can be made in from(ST-1) .this is to be made within a period of thirty days from the date on which the service tax is leviable. ST-1 form shall be accompanied by the following documents:
- permanent account number (pan).
- An affidavit declaring the commencement of the services.
- Copy of passport/ration card etc. showing proof of residence.
- Passport size photograph of the assessee in case of an individual. In case of partnership firm,copy of partnership deed duly certified to true copy along with registration certificate in case the firm is registered.
- In case of corporate assessee, copy of memorandum, articles of association duly certified to be true copy by the director.

RATE OF SERVICE TAX

In the year 1994, when sevice tax was first introduced, it was levied on the uniform basis at the rate of 5% of the value of taxable services. The rate went upto 8% subsequently vide finance act,2003 w.e.f may 14,2003. w.e.f.10.9.2004, the rate of service tax was raised to 10% on the value of the taxable services. Presently, the rate ofservice tax is 12%(raised by finance act,2006). In addition to it, education cess at the rate of 2% of the amount of sevice tax also applies. From the financial year 2007-2008 an additional charge of 1% as higher and secondary education cess has been levied.

An example: if a person renders a taxable service of the value of Rs.500, the sevice tax @12% will be Rs. 60. the education cess and secondary & higher education cess @3% on Rs. 1.80. the total tax will be Rs. 61.80.

Global warming challenge

Overcoming global warming challenge is one of the biggest and most demanding tasks in the history of humanity. China as the world’s biggest polluter and largest global warming contributor is one of the countries (together with United States) that will mean the difference between success and failure in fight against global warming. China’s greenhouse gas emissions, particularly CO2 emissions have increased heavily over the last decade, mostly because of tremendous economy boom, and China will really struggle to keep the balance between economy demands on one side, and need to curb emissions on other. What are the possible solutions?

China’s recent economic boom is mostly connected with coal as the main fuel. Coal fired power plants are the base of Chinese economic success, as it is the case in many other developing countries. This is mostly because coal is among the cheapest energy sources and easily available, and this is certainly one great advantage from economic point of view. But from environmental point of view coal is one of the dirtiest energy sources, that not only pollutes air but is also significant source of CO2 emissions. Therefore something has to be done with coal, but the question is what?

The most obvious solution would be complete turn to renewable energy sector, but this is still not possible because renewables are still not enough competitive to fossil fuels, both on economic as well as technological level. So complete turn is not possible, but partial turn yes. The good sign in this whole story is the fact that China has finally become aware of the need to become greener in years to come. There are few renewable energy projects in China that certainly deserve special mention, for instance hydropower projects on many China’s river and especially China’s newest plan to triple its wind power capacity by 2020. These projects are giving hope that China really wants to curb its emissions and help reduce impact of global warming on global level.
Overcoming global warming challenge is one of the biggest and most demanding tasks in the history of humanity. China as the world’s biggest polluter and largest global warming contributor is one of the countries (together with United States) that will mean the difference between success and failure in fight against global warming. China’s greenhouse gas emissions, particularly CO2 emissions have increased heavily over the last decade, mostly because of tremendous economy boom, and China will really struggle to keep the balance between economy demands on one side, and need to curb emissions on other. What are the possible solutions?

China’s recent economic boom is mostly connected with coal as the main fuel. Coal fired power plants are the base of Chinese economic success, as it is the case in many other developing countries. This is mostly because coal is among the cheapest energy sources and easily available, and this is certainly one great advantage from economic point of view. But from environmental point of view coal is one of the dirtiest energy sources, that not only pollutes air but is also significant source of CO2 emissions. Therefore something has to be done with coal, but the question is what?

The most obvious solution would be complete turn to renewable energy sector, but this is still not possible because renewables are still not enough competitive to fossil fuels, both on economic as well as technological level. So complete turn is not possible, but partial turn yes. The good sign in this whole story is the fact that China has finally become aware of the need to become greener in years to come. There are few renewable energy projects in China that certainly deserve special mention, for instance hydropower projects on many China’s river and especially China’s newest plan to triple its wind power capacity by 2020. These projects are giving hope that China really wants to curb its emissions and help reduce impact of global warming on global level.

Shipping is significant source of greenhouse gas emissions

Many people mostly connect greenhouse gases with power plants and cars, but these two greenhouse gas sources, though most significant ones are not the only ones that cause global warming and climate change. One of the greenhouse gas sources that is often neglected is shipping. Shipping currently accounts for for 2.7% of global CO2 emissions, and according to some estimations, if current trend continues, shipping emissions could rise by between 150 and 250% by 2050.

The problem with shipping emissions is that they were not included in Kyoto protocol, and there is currently no country in the world that is obliged to reduce shipping emissions. For instance share of international aviation in total greenhouse gases is 1,9%, and aviation is about to be included be the EU emissions trading scheme from 2012, so it really makes no sense why shipping emissions that are 50 % bigger aren’t included.

Aviation emissions are often discussed in public but shipping emissions have so far been somehow hidden from public eye, like they don’t exist. This has to be changed because shipping emissions could soon rise even further, giving more impact to global warming. Therefore it would be more than wise to include shipping emissions in new climate deal.

Many experts agree how world could cut more than quarter of these emissions by improving efficiency through different technical and operational measures. Some even say how shipping sector could reduce emissions by 25% to 75% below current levels, and achieve significant financial gain for industries with measures like upgrades to ship design, speed reductions, maritime emissions trading and a bunker fuel levy.

World has really come to a point where every cut in emissions is precious, and shipping emissions are no exception. We really have to regulate as many sources of emissions as possible to have decent chance in fight against global warming.