With the release of revised guidelines, the Ministry of revised & Renewable Energy has permitted two more payment methods for rooftop solar system installation under PM-Surya Ghar: Muft Bijli Yojana.
The action would guarantee payment security and provide families with subsidies when payments are made through utility-led aggregation schemes and Renewable Energy Service Companies (RESCO).
According to an official announcement, the ministry has released implementation instructions for the “Payment Security Mechanism” and “Central Financial Assistance” components for RESCO models and utility-led aggregation models under PM-Surya Ghar: Muft Bijli Yojana.
According to the statement, Rs 100 crore has been set aside under this program for the payment security mechanism (PSM), which will de-risk investments in residential RESCO-based grid-connected rooftop solar models. This amount may be increased by additional grants, funds, and sources following appropriate approval.
Third-party organisations fund rooftop solar systems under the RESCO model, allowing customers to pay for just the electricity they use rather than the entire cost up front.
Power distribution corporations or state-designated agencies install rooftop solar installations on behalf of individual homeowners under the utility-led aggregation (ULA) paradigm.
These alternative models will complement the national portal-based implementation of the scheme, the ministry added, adding that these guidelines are in addition to the current consumer-driven method of implementation (capex mode) through the national site.
(The Business Standard staff may have altered only the report’s headline and image; the remainder of the material was automatically generated from a syndicated feed.)