MNRE Revises Rooftop Solar Subsidy Rules for Real Estate Developers

21 Nov 2024 CW Team

The Ministry of New and Renewable Energy (MNRE) has mandated that real estate developers seeking Central Financial Assistance (CFA) under the PM Surya Ghar: Muft Bijli Yojana must submit an undertaking ensuring rooftop solar assets are transferred to group housing societies or residential welfare associations.

Developers must also guarantee that the subsidies benefit residents by lowering electricity costs for common facilities in housing complexes. The nodal agency, REC, may impose additional documentation requirements to validate claims.

Operational guidelines issued in June 2024 specify that CFA will only support rooftop solar systems dedicated to common facilities, excluding individual usage. Updates to the national rooftop solar portal are underway to reflect the process changes.

Announced in February 2024 with a ?750.21 billion (~$8.88 billion) budget, the PM Surya Ghar program aims to equip 10 million households with rooftop solar systems by 2026-27. The initiative now includes battery storage and hybrid inverter installations as eligible for subsidies, as clarified in September 2024.

India achieved a record-breaking 1.1 GW of rooftop solar installations in H1 2024, underscoring the growing momentum in renewable energy adoption.

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