New Delhi: Union Ministry of New and Renewable Energy has notified Scheme Guidelines for implementation of ‘Payment Security Mechanism’ Component and ‘Central Financial Assistance’ Component for RESCO Models/ Utility Led Aggregation Models under PM-Surya Ghar: Muft Bijli Yojana.
The scheme offers two alternative implementation models for the installation of rooftop solar plants for consumers: the RESCO (Renewable Energy Service Company) model, where third-party entities invest in rooftop solar installations, allowing consumers to pay only for the electricity consumed without bearing the upfront costs; and the Utility-Led 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, ₹100 crore corpus fund has been earmarked for Payment Security Mechanism (PSM) for de-risking investments in RESCO-based grid-connected rooftop solar models in the residential sector, which may be supplemented through other grants, funds and sources after due approval of the Ministry.
It is clarified that these guidelines are in addition to the existing mode of implementation undertaken by consumers (capex mode) through the national portal (https://www.pmsuryaghar.gov.in/), and these alternative models will supplement the national portal-based implementation of the scheme.
The rooftop solar scheme provides a CFA of 60% of system cost for 2 kW systems and 40% of additional system cost for systems between 2 to 3 kW capacity. The CFA will be capped at 3 kW. At current benchmark prices, this will mean Rs 30,000 subsidy for 1 kW system, Rs 60,000 for 2 kW systems and Rs 78,000 for 3 kW systems or higher.
Households will be able to access collateral-free low-interest loan products of around 7% at present for installation of residential RTS systems up to 3 kW.
The households will have to apply for subsidy through the National Portal and will be able to select a suitable vendor for installing rooftop solar. The National Portal will assist the households in their decision-making process by providing relevant information such as appropriate system sizes, benefits calculator, vendor rating etc.
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