India may consider higher subsidy for rooftop solar: Exclusive
Sources told CNBC-TV18 that as per current estimates ₹40,000 crore subsidy for rooftop solar cannot be ruled out. However, the government’s consultation on the proposed subsidy rates is still ongoing, no final decision has been taken yet, they said.
The Union government could increase the subsidy for rooftop solar to 60% in the 1-5 kilowatt (kW) category, sources told CNBC-TV18 on January 24.
The subsidy for the 1 kW category could be 60%, for the 2-5 kW category it could be 40% and 20% for the 5-10 kW category, sources said. This compares to the current subsidy rates of 40% subsidy for 1-3 kW and 20% for 3 kW-10 kW.
The people familiar with the development cited above added that as per current estimates ₹40,000 crore subsidy for rooftop solar cannot be ruled out. The government’s consultation on the proposed subsidy rates is still ongoing, no final decision has been taken yet, they said.
The development comes two days after Prime Minister Narendra Modi launched the Pradhan Mantri Suryoday Yojna under which one crore homes will have rooftop solar systems.
"I have taken my first decision after returning from Ayodhya that our government will launch 'Pradhan Mantri Suryoday Yojna' with the aim to install rooftop solar systems in one crore houses," Modi had said on X.
The new scheme, the PM said, will not only reduce the electricity bills of the poor and the middle class but also make India self-reliant in the energy sector.
The Ministry of New and Renewable Energy (MNRE) will issue guidelines for the scheme soon. The ministry is working out the subsidy details and there will be some rationalisation.
(Edited by : Amrita)
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