Govt Launches ₹500 Crore Scheme to Boost Innovation in Rooftop Solar Technology

New Delhi: The Union Ministry of New and Renewable Energy (MNRE) has announced guidelines for the implementation of ‘Innovative Projects’ under the PM-Surya Ghar: Muft Bijli Yojana, with an aim to revolutionize rooftop solar technology and integration across India. Unveiled on October 8, 2024, this initiative allocates ₹500 crore to support advancements in solar technologies, promote innovative business models, and explore new integration techniques.

The Innovative Projects component is designed to push the boundaries of solar rooftop systems, encouraging breakthroughs in cutting-edge fields such as blockchain-based peer-to-peer solar trading, smart materials, and the integration of rooftop solar with electric vehicles and battery storage. The scheme aims to foster innovation by providing financial backing to startups, institutions, and industries that pioneer emerging solutions in these areas.

To achieve these ambitious goals, MNRE will invite proposals from various stakeholders, promoting joint research and international collaborations. The National Institute of Solar Energy (NISE) will serve as the Scheme Implementation Agency (SIA), ensuring that selected projects are carried out effectively. Under the scheme, chosen projects will receive financial support of up to 60% of the project cost or ₹30 crore, whichever is lower.

To further motivate advancements, the scheme will also introduce annual awards for innovation, offering prizes of up to ₹1 crore to recognize and reward transformative ideas in the rooftop solar sector.

The PM-Surya Ghar: Muft Bijli Yojana, approved by the Government of India on February 29, 2024, is a landmark initiative aimed at empowering households to generate their own electricity through rooftop solar installations. With an outlay of ₹75,021 crore, the scheme seeks to significantly increase India’s rooftop solar capacity by 2027, making solar energy a key part of the country’s renewable energy mix.

The guidelines for the Innovative Projects component and further details about the scheme can be accessed via the official MNRE website.

This new initiative represents a crucial step in the government’s efforts to accelerate the adoption of renewable energy while driving innovation in one of the fastest-growing segments of India’s energy market.