For residential rooftop solar installations, the Ministry of New and Renewable Energy (MNRE) has announced simplified central financial assistance (CFA) calculations. Subsidy calculations will now be based on the capacity of the rooftop solar system.
- Solar energy systems with a capacity of up to 3 kW are eligible for a subsidy of up to ₹14, 588/ kW.
- For a system capacity between 3 kW to 10 kW, ₹14,588 /kW is applicable for the first 3kW and ₹7,294/kW for the rest of the capacity.
- For over 10 kW solar systems, a fixed subsidy of ₹94,822 will be given.
Note: Only those who have registered on the National Portal for Rooftop Solar before December 31st, 2022 can avail of this central government subsidy. The subsidy will only be released after clearance by the inspecting authority, which is the respective regional power distribution company.
The National Portal for Rooftop Solar was recently launched by Prime Minister Narendra Modi, to ease the process of submission of applications and tracking of installations. With this portal, consumers can apply for net metering and subsidies online. The subsidy would be directly deposited into their bank accounts 30 days after their solar installation. The portal can be used to track the release of funds.
Each calendar year, the applicable subsidies will be notified to the beneficiaries who have registered on the platform.
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Resource: Mercom India