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The Maharashtra State Electricity Distribution Company Ltd (MSEDCL) told the media that the state government would provide a 40% subsidy to residential owners and a 20% subsidy to housing societies and residential welfare associations for installing rooftop solar systems. The rooftop solar power will save huge monthly electricity bills. Apart from this, MSEDCL will purchase the remaining power by the end of each financial year through a net-metering arrangement. Vijay Singhal, Chairman and Managing Director of MSEDCL, talks with the regional officers to provide the advantages of the rooftop solar systems scheme to the consumers. Under the Ministry of New and Renewable Energy's (MNRE) Phase-II scheme, 25 MW has been sanctioned for MSEDCL. As per the scheme, central finance assistance will be provided by the government for setting up a rooftop solar system of about 1 KW capacity for residential consumers. A 40% subsidy will be provided for 1-3 KW capacity and a 20% subsidy for 3-10 KW capacity. Residential welfare associations or group housing societies will get a 20% subsidy for up to 500 KW capacity, with at least 10 KW capacity for each house. MSEDCL has selected area-wise agencies for setting up rooftop solar power. The list of all the agencies and online application facilities are mentioned on the official website of MSEDCL. An installation of a 1 KW capacity rooftop solar system can save up to Rs 550 per unit of the current tariff for a consumer who consumes around 100 units per month. The unutilised power will be purchased by MSEDCL at the end of each FY via a net-metering arrangement. This renewable scheme will also benefit residential consumers financially. Besides, the payback time for the investment is about three to five years. Cooperative Housing Federation of the Pune district, Suhas Patwardhan, told the media that the governments' decision would benefit the housing societies. However, it will consume time to convince the people. A soft loan scheme will help in better implementation of the solar power investment scheme as it is an expensive affair, and consumers can face difficulties in raising funds. Image Source Also read: Tripura floats tender for 1 MW residential rooftop solar projects