Union Ministry of New and Renewable Energy has notified Scheme Guidelines for implementation of 'Payment Protection Mechanism' component and 'Central Financial Assistance' component for RESCO Model/Utility Led Aggregation Model under PM-Surya Ghar: Free Electricity Scheme .
The scheme offers two alternative implementation models for the installation of rooftop solar plants for consumers: the RESCO (Renewable Energy Services Company) model, where third-party entities invest in rooftop solar power plants, providing consumers with the option to install rooftop solar power plants at no cost. Bearing upfront costs allows payment only for power consumed; and utility-based aggregation (ULA) model, where DISCOMs or state-designated entities will install rooftop solar projects on behalf of individual residential sector households.
Under this scheme component, a corpus of ₹100 crore has been earmarked for Payment Security Mechanism (PSM) to de-risk investments in RESCO-based grid-connected rooftop solar models in the residential sector, subject to due approval of the Ministry. The latter can be supplemented through other grants, funds and sources.
It is clarified that these guidelines are in addition to the existing mode of implementation (capex mode) by consumers through the National Portal, and this alternative model will complement the National Portal-based implementation of the scheme.
The rooftop solar scheme offers a CFA of 60% of the system cost for up to 2 kW systems and an additional 40% of the system cost for systems between 2 to 3 kW capacity. The limit of CFA will be 3 kW. At current benchmark prices, this would mean a subsidy of Rs 30,000 for a 1 kW system, Rs 60,000 for a 2 kW system and Rs 78,000 for a 3 kW or more system.
Households will be able to access collateral-free low-interest loan products currently available at around 7% for installation of residential RTS systems up to 3 kW.
Households will have to apply for the subsidy through the national portal and will be able to select a suitable vendor to install rooftop solar. The national portal will assist families in their decision making process by providing relevant information like appropriate system size, benefit calculator, vendor ratings etc.
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