New Rooftop Subsidy Only For Applications Post Feb 13-MNRE

Gujarat Received Highest Central Aid Under Rooftop Scheme: RK Singh

The Ministry of New and Renewable Energy (MNRE), in a fresh update on Geb 20, has declared that only applications received after Feb 13, 2024 will be considered for Central Financial Assistance (CFA) under the PM Surya Ghar Muft Bijli Yojana. The move comes even as demand is expected to skyrocket for solar rooftops under the scheme that targets 10 million households across the country with an enhanced assistance (subsidy) package.

The new subsidy includes upto Rs 30,000 for systems upto 2kW, Rs 18,000  for the next 1 Kw to 3 KW, and a cap of Rs 78,000 in subsidy for systems beyond that size. This will be based on the household’s consumption pattern.

In the rules governing subsidy for the period before Feb 13, the subsidy amounts are Rs 18,000 per KW upto 3 kW systems, with hill states or special category states eligible for upto  Rs 20,000 per kW. There was no subsidy for systems over 10kW in size. Consumers are also set to be provided subsidised loans at 7% rate of interest to ensure faster uptake

The new order will probably clear up some confusion among older customers who applied in February, just around the time the Prime Minister announced the new scheme.

With an outlay of Rs 75,000 crores, it is a matter of conjecture whether PSUs tasked with implementing the scheme will actually recover finance costs from sale of surplus electricity generated from the households. Quite simply because better energy access should ideally lead to higher consumption as well. Plus, the savings the houses themselves make from the free 300 units of power are equally likely to be invested in buying more electrical appliances as well.

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