For more details about Solar Rooftop Subsidy Yojana to know the eligibility criteria, read the complete article on Vakilsearch.
Solar Rooftop Subsidy Yojana
- The Solar Rooftop Subsidy Scheme for the year 2023-24 has been announced by the Cabinet Committee on Economic Affairs (CCEA) of India. Citizens of India can now avail this scheme by applying online through the official website, Solarrooftop.gov.in. The Solar Rooftop Subsidy Scheme has been introduced with the aim of conserving electricity and reducing expenses by utilizing solar power. The Solar Rooftop Subsidy Yojana (SRSSY) is a government subsidy scheme for installing solar rooftop photovoltaic (PV) systems. The scheme is currently open to residential, commercial and industrial consumers. Under the scheme, the government provides a subsidy of 30% of the cost of installing a solar PV system, up to a maximum of ₹1 million (US$14,000). The SRSSY is part of the Indian government’s goal to install 100 gigawatts (GW) of solar PV capacity.
- The SRSSY has been successful in promoting the installation of solar PV systems in India. As of March 2017, over 1,600 MW of capacity had been installed under the scheme, with an additional 4,600 MW under application. The majority of installations have been in the residential sector, followed by the commercial and industrial sectors.
- The success of the SRSSY has been attributed to several factors, including the high subsidy level, easy application process and efficient disbursement of subsidies by government agencies. In addition, the scheme has created a market for solar PV systems and components, which has led to a reduction in prices.
Solarrooftop.gov.in Overview
The solarrooftop .gov.in is a government initiative to promote the use of solar energy in India. The scheme provides financial assistance to eligible consumers to install solar photovoltaic (PV) systems on their rooftops. The subsidy is provided in the form of a direct benefit transfer (DBT) to the bank account of the consumer.
The objective of the solarrooftop .gov.in Solar Rooftop Subsidy Yojana is to promote solar energy usage in India and achieve grid parity for solar power. The solarrooftop .gov.in scheme also aims to create employment opportunities in the solar sector and reduce carbon emissions.
Solar Rooftop Subsidy Yojana Objectives
- To promote the use of renewable energy by providing financial assistance to eligible beneficiaries for the installation of solar rooftop systems.
- To encourage the use of clean and green energy by making it more affordable for households and businesses.
- To create employment opportunities in the renewable energy sector and help boost the economy.
Solar Rooftop Subsidy Yojana Benefits
- Solar photovoltaic (PV) systems can help you save money on your electricity bills and protect you against rising utility rates.
- Solar PV systems are eligible for state and federal tax credits and rebates, which can further reduce the costs of installation and ownership.
- Solar PV systems have little or no maintenance costs, and they can last for decades with proper care.
- Solar PV systems increase the value of your home or business, making it a wise investment in addition to saving you money on energy costs.
- Solar PV systems produce clean, renewable energy that helps reduce our reliance on fossil fuels and protects the environment.
Solar Rooftop Power Plant Details
- A Solar Rooftop Power Plant is a facility used to generate electricity by converting sunlight into direct current (DC) using photovoltaic cells. Solar rooftop power plants are usually mounted on the rooftops of commercial or industrial buildings.
- The cost of setting up a solar rooftop power plant can be quite high, making it difficult for many businesses to justify the investment. However, the Indian government has recently launched the solarrooftop .gov.in Solar Rooftop Subsidy Yojana, which provides financial assistance to businesses looking to install solar rooftop power plants.
- Under the scheme, businesses can avail of a subsidy of up to 30% of the total cost of setting up a solar rooftop power plant. This subsidy can go a long way in making solar power more affordable for businesses in India.
How to Apply Online for Solar Rooftop Subsidy Yojana?
The process of applying for the Solar Rooftop Subsidy Yojana is quite simple and can be done online. All you need to do is follow the steps mentioned below:
- Log on to the official website
- Click on the link for the Solar Rooftop Subsidy Yojana
- Fill in the necessary details in the online application form
- Submit the form and wait for a response from MNRE
Solar Rooftop Calculator
The subsidy for rooftop solar PV systems under the Solar Rooftop Subsidy Yojana (SRTSY) is 30% of the total project cost, capped at ₹1.5 million per MWp (ac). The system size must be a minimum of 1kWp (dc). The following calculator takes into account these subsidy parameters to estimate the net present value (NPV) of a rooftop solar PV system investment for SRTSY in India.
System Size (kWp): _____
Total Project Cost: _____
Subsidy Amount: _____
Discount Rate (%): _____
View State Wise Discom Portal Links
- Visit the official website of Solar Rooftop Subsidy Yojana.
- On the homepage, hover your mouse over the ‘DISCOM Portal’ tab and click on it.
- You will be redirected to a new page with a list of all the DISCOMs in India.
- Click on your state’s DISCOM link to be redirected to that specific portal.
- Follow the instructions on the portal to apply for this yojana in your state.
View Discoms Contact Details
- Visit the official website
- Under the ‘Schemes’ tab, click on ‘Solar Rooftop Subsidy Scheme’.
- On the resulting page, scroll down to the section titled ‘Contact Details of State Nodal Agencies/DISCOMs’.
- Here, you will find a list of all the DISCOMs participating in the SRSSY, along with their respective contact details.
Myth Busters
- It is not necessary to have a south-facing roof to avail the benefits of this scheme. Any roof that receives at least 4 hours of direct sunlight every day can be used for installing solar panels.
- The cost of installation of rooftop solar panels has come down significantly in recent years and is now within the reach of many people. There are various financing options available under the scheme which can make it even more affordable.
- The maintenance cost of rooftop solar panels is very low and they have a long lifespan. With proper care, they can last for 20-25 years without any major problems.
- Lastly, the electricity generated from rooftop solar panels can be used for various purposes including powering appliances, lighting up homes, and even charging electric vehicles. There is no need to worry about power cuts or high electricity bills anymore!
Why Vakilsearch
Vakilsearch is now Zolvit!
SRSSY is a very good scheme for people who want to know about solar energy and how it works. This scheme provides subsidy on the installation of solar rooftop systems. It also covers the cost of maintenance and repair of these systems. The scheme is available for both domestic and commercial users.
FAQs
1. What are the main objectives of Solar Rooftop Subsidy Yojana?
The Solar Rooftop Subsidy Yojana was launched with the objective of promoting the use of solar power in the country. Under this scheme, the government provides a subsidy of 30% on the cost of setting up a rooftop solar photovoltaic system. This subsidy is available for both domestic and commercial users.
2. How much subsidy is available under this scheme?
As mentioned above, the government provides a subsidy of 30% on the cost of setting up a rooftop solar photovoltaic system.
3. Who are eligible for this subsidy?
The Solar Rooftop Subsidy Yojana is open to all Indian citizens who wish to set up a rooftop solar PV system. There is no income criteria for availing this subsidy.
4. How can I apply for this subsidy?
You can apply for the Solar Rooftop Subsidy Yojana by filling out an application form and submitting it to your nearest approved implementing agency.
