New Delhi: The Ministry of New and Renewable Energy (MNRE) has issued scheme guidelines for the implementation of the ‘Payment Security Mechanism’ (PSM) and ‘Central Financial Assistance’ (CFA) components under the PM-Surya Ghar: Muft Bijli Yojana, specifically for the RESCO and Utility-Led Aggregation (ULA) models.
The scheme offers two alternative approaches for the installation of rooftop solar systems for consumers. The first is the RESCO (Renewable Energy Service Company) model, where third-party companies invest in the installation of rooftop solar systems, allowing consumers to only pay for the electricity consumed, without incurring upfront costs. The second is the ULA (Utility-Led Aggregation) model, in which DISCOMs or state-designated entities install rooftop solar systems on behalf of individual residential households.
As part of the scheme, a Rs 100-crore corpus fund has been allocated for the Payment Security Mechanism (PSM) to mitigate risks associated with investments in RESCO-based grid-connected rooftop solar systems in the residential sector. This fund may be supplemented by additional grants, funds, or other sources, subject to approval by the ministry.
It is important to note that these guidelines are in addition to the existing consumer-driven implementation (Capex mode) through the national portal (https://www.pmsuryaghar.gov.in/), said the MNRE. The alternative models are intended to complement the national portal-based scheme implementation.
The PM Surya Ghar Muft Bijli Yojana aims to provide solar power to one crore households by March 2027. Since its launch in February 2024, with a budget allocation of Rs 75,021 crore, the scheme has seen 6,85,763 installations, reaching 86 percent of the installations achieved in the last decade.
The 3-5 kW load segment has seen the highest demand, accounting for 77 percent of installations, while 14 percent were in the segment above 5 kW. Gujarat has led the installations, followed by Maharashtra, Uttar Pradesh, and Kerala.
As of last month, over 1.45 crore registrations have been recorded under the scheme. The PM Surya Ghar Muft Bijli Yojana offers a subsidy of up to 40 percent to households, making renewable energy more affordable and accessible.