PM Modi announces ‘PM Surya Ghar’ yojana to promote solar rooftops, investments pegged at INR 75,000 crore
Notable because
As of Q3 FY24, India’s rooftop solar (RTS) capacity stands at 11 GW. In the revised national rooftop scheme, three categories have been defined for the residential segment, with differing subsidy slabs: (a) up to 2 kW, (b) between 2 and 3 kW, and (c) above 3 kW. An enhanced subsidy to each of the three categories should give a renewed push to India’s target of achieving 40 GW of installed RTS by 2026.
What to look out for in the months ahead
The Renewable Energy Corporation (REC), the scheme’s nodal agency, has committed a line of credit of ~INR 1.20 lakh crore to ease the financial bottlenecks apart from subsidies in the form of loans. How would these loans be disbursed to residential consumers?
If the approved list of models and manufacturers is imposed in the coming years, what effect would it have on the cost of installing solar panels?