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					</table><p>Free electricity will be provided for households with a consumption of less than 300 units a month by installing rooftop solar systems on their homes, according to an announcement made in the <a href="https://www.indiabudget.gov.in/" target="_blank" rel="noopener">Union Budget 2024</a> recently.</p>
<p>Disclosing the details of the program, Union Minister for Power and New &amp; Renewable Energy R K Singh told a news channel that households will not be required to pay anything for the rooftop solar system.</p>
<p>The designated central public sector undertakings (CPSU) will set up the 3 kW solar systems, for which the household will not be required to make any investment. The CPSUs will be availing loans for setting up the systems, which will now carry a subsidy of 60% in place of the earlier 40%.</p>
<p>For ten years, the household will get to enjoy free electricity of up to 300 units a month. The income from any surplus electricity generated will go towards servicing the loan availed by the CPSU. The loan is expected to be repaid within this period.</p>
<p>After ten years, the household with the rooftop solar system will not only get free electricity up to 300 units a month but will also derive income from any surplus electricity that is generated for the next 15 years or the life of the system.</p>
<p>The CPSU will exit the program after ten years, when the household will acquire full ownership of the rooftop solar system.</p>
<p>The maintenance of the rooftop solar system will be the responsibility of the designated CPSU, the minister said.</p>
<p>Singh said the new program is different from the earlier one, under which the household was required to avail the loan for installing the rooftop solar system.</p>
<p>The free electricity program for 10 million households using rooftop solar under the Pradhan Mantri Suryoday Yojana was one of the major programs <a href="https://www.mercomindia.com/budget-2024-free-electricity-rooftop-solar-vgf-offshore-wind" target="_blank" rel="noopener">unveiled</a> in the interim Budget 2024 presented to Parliament by Finance Minister Nirmala Sitharaman. Every beneficiary household would save up to ₹18,000 (~$216) a year on electricity expenses.</p>
<p>The new rooftop solar program is expected to spur the government’s residential solarization initiative, which so far has not gained as much traction unlike the utility-scale solar programs. India installed just over 1.3 GW of rooftop solar capacity in the first nine months of the calendar year 2023, according to the <a href="https://www.mercomindia.com/product/rooftop-solar-market-report-q3-2023" target="_blank" rel="noopener">Q3 2023 Mercom India Rooftop Solar Market Report.</a></p>
<p>India’s cumulative rooftop solar capacity stood at 10.1 GW at the end of Q3 2023.</p>


Residential Rooftop Solar Subsidy to be Increased to 60%: R K Singh

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