The Ministry of New & Renewable Energy has introduced new guidelines under the PM-Surya Ghar: Muft Bijli Yojana, adding two additional payment methods for rooftop solar installations.
These methods, facilitated through Renewable Energy Service Companies (RESCO) and utility-led aggregation models, aim to enhance payment security while ensuring households receive subsidies seamlessly.
An official statement said the ministry has notified scheme guidelines for implementing the ‘Payment Security Mechanism‘ component and ‘Central Financial Assistance‘ component for RESCO models/ utility-led aggregation models under PM-Surya Ghar: Muft Bijli Yojana.
Under this scheme, ₹100 crore has been allocated for a Payment Security Mechanism (PSM) to de-risk investments in RESCO-based grid-connected rooftop solar models for the residential sector. This amount may be further supplemented through other grants, funds, and sources, subject to approval, as stated.
In the RESCO model, third-party entities finance rooftop solar installations, allowing consumers to pay solely for the electricity they use without any upfront costs.
In the Utility-Led Aggregation (ULA) model, power distribution companies or state-designated entities install rooftop solar systems for individual households.
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