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MNRE Launches Rs 5 Billion Rooftop Solar Initiative Insight

Last Update 14 October 2024

The Ministry of New and Renewable Energy (MNRE) has announced guidelines for the PM-Surya Ghar: Muft Bijli Yojana, allocating Rs 5 billion to promote Rooftop Solar innovations. Startups and industries can receive up to 60% funding or Rs 300 million for projects. The initiative includes annual innovation awards up to Rs 10 million, encouraging research and collaboration.

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The allocation of Rs 5 billion to promote rooftop solar innovations under the PM-Surya Ghar: Muft Bijli Yojana is aimed at driving technological advancements in solar energy, fostering innovations like blockchain-based peer-to-peer trading, smart materials, and integration with electric vehicles. This initiative will boost India’s solar rooftop capacity, helping the country meet its climate goals while positioning it as a leader in clean energy technologies. The funding, which covers up to 60% of project costs, will support startups, research institutions, and industries, while an annual innovation award of up to Rs 10 million will incentivize further breakthroughs. By offering financial assistance and encouraging joint research and international collaborations, the scheme will unlock opportunities for innovation, economic growth, and global leadership in solar technology, benefiting both stakeholders and the country by accelerating the transition to a sustainable energy future.

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