Can the PM Surya Ghari Yojana scheme spur using rooftop photo voltaic in India?

Within the newest episode of the State of the Financial system Podcast, Vikram V, Vice President and Sector Head Company Rankings at ICRA, discusses the PM Surya Ghari Yojana, a scheme aimed toward revitalising the rooftop photo voltaic sector in India. Vikram explains that the scheme provides subsidies to cut back the capital value of establishing rooftop photo voltaic vegetation and electrical energy payments for customers. The subsidy is aimed toward an estimated 1 crore households with month-to-month electrical energy consumption under 300 models. 

Vikram highlights the important thing options of the scheme, together with elevated subsidy elements, simpler entry to financing with low-interest charges, and outlined timelines for approval processes. He emphasises the necessity for consciousness in regards to the scheme and the supply of certified distributors to facilitate its implementation. 

The dialogue additionally touches upon the challenges confronted by the rooftop photo voltaic sector, akin to low consciousness, lack of certified distributors, and sophisticated approval processes. Vikram means that the success of the scheme depends upon the cooperation of state governments and distribution firms (DISCOMS) in selling and implementing it successfully. 

Relating to the scheme’s impression on the trade, Vikram predicts a major demand for home photo voltaic module producers, creating alternatives for development within the sector. He emphasises the significance of state-level monitoring and promotion to make sure the scheme’s success throughout completely different areas. 

Vikram stresses the necessity for sustained consciousness efforts and tailor-made approaches for various states to maximise the scheme’s potential. He believes that with efficient implementation and assist, the PM Surya Ghari Yojana can drive substantial development within the rooftop photo voltaic sector and contribute to India’s renewable vitality targets. 

(Host: Rishi Ranjan Kala, Producers: Anjana PV & Siddharth Mathew Cherian)