MNRE Introduces Rs 5 Billion Initiative to Support Rooftop Solar Innovation
POWER & RENEWABLE ENERGY

MNRE Introduces Rs 5 Billion Initiative to Support Rooftop Solar Innovation

The Ministry of New and Renewable Energy (MNRE) introduced a Rs 5 billion Innovative Projects Component as part of the PM Surya Ghar: Muft Bijli Yojana, aiming to showcase and demonstrate advanced solar technologies and applications.

Background and Scope

The PM Surya Ghar: Muft Bijli Yojana, which received approval on February 29, 2024, is designed to enhance the share of rooftop solar capacity and empower households to generate their own electricity. With a total budget of Rs 750.21 billion, the program is scheduled for implementation until the fiscal year 2026-27. The Innovative Projects Component focuses on identifying, funding, and supporting innovations in both business models and technical deployments of rooftop solar systems.

The Innovative Projects Component has several objectives:

1.Fostering Innovation: The initiative seeks to identify and finance groundbreaking innovations in business models and technical deployments of rooftop solar systems.

2. Supporting Startups and Institutions: By offering a platform for collaborative pilots, proofs-of-concept, and scaling up new business models, the component aims to foster the growth of startups and institutions within the solar energy sector.

3. Creating New Pathways: The project intends to develop new avenues for deploying distributed renewable energy, benefiting both households and businesses.

4. Empowering DISCOMs: A major focus is on creating technological and management tools that enable distribution companies (DISCOMs) to better manage distributed energy resources within their grids.

The component also supports the integration of cutting-edge technology into real-world rooftop solar and distributed renewable energy deployments.

The Ministry of New and Renewable Energy (MNRE) introduced a Rs 5 billion Innovative Projects Component as part of the PM Surya Ghar: Muft Bijli Yojana, aiming to showcase and demonstrate advanced solar technologies and applications. Background and Scope The PM Surya Ghar: Muft Bijli Yojana, which received approval on February 29, 2024, is designed to enhance the share of rooftop solar capacity and empower households to generate their own electricity. With a total budget of Rs 750.21 billion, the program is scheduled for implementation until the fiscal year 2026-27. The Innovative Projects Component focuses on identifying, funding, and supporting innovations in both business models and technical deployments of rooftop solar systems. The Innovative Projects Component has several objectives: 1.Fostering Innovation: The initiative seeks to identify and finance groundbreaking innovations in business models and technical deployments of rooftop solar systems. 2. Supporting Startups and Institutions: By offering a platform for collaborative pilots, proofs-of-concept, and scaling up new business models, the component aims to foster the growth of startups and institutions within the solar energy sector. 3. Creating New Pathways: The project intends to develop new avenues for deploying distributed renewable energy, benefiting both households and businesses. 4. Empowering DISCOMs: A major focus is on creating technological and management tools that enable distribution companies (DISCOMs) to better manage distributed energy resources within their grids. The component also supports the integration of cutting-edge technology into real-world rooftop solar and distributed renewable energy deployments.

Next Story
Building Material

JSW Steel and POSCO to Invest ?650 Billion in Odisha Steel Plant

India's JSW Steel and South Korea's POSCO have announced plans to jointly invest ?650 billion (~$7.73 billion) in constructing a steel plant in Odisha. The plant, which will have an initial capacity of 5 million tons of steel annually, is part of their strategy to tap into India's rapidly growing steel market, fueled by its fast-paced economic expansion. The cooperation agreement was signed last week, although specific financial details were not disclosed. The initial investment for the project will be ?200 billion, with the plant expected to be operational by next year. Over the following thr..

Next Story
Infrastructure Urban

India's EV Charging Market Set to Reach $3.7 Billion by 2030

India’s electric vehicle (EV) charging market is projected to grow to $3.7 billion by 2030, driven by increasing EV adoption and the need for efficient charging solutions. The sector is expected to expand at a compound annual growth rate (CAGR) of 16%, supported by environmental concerns and fluctuating fuel prices. Globally, the EV charging infrastructure market is also experiencing significant growth, with revenues forecast to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a CAGR of approximately 12%. "Fast-charging technologies and battery-swapping solutions are esse..

Next Story
Resources

IIA Kerala to host SRC 2024 on November 29-30

The Southern Regional Conference (SRC) 2024, hosted by The Indian Institute of Architects (IIA) Kerala Chapter and organised by IIA Kannur Centre, will take place on November 29-30, 2024 at Vythiri Village Resort in Wayanad. This prestigious conference will bring together visionary architects from across the country  and beyond to foster a rich dialogue and exchange of innovative ideas in the field of architecture.The Southern Regional Conference serves as a premier platform for professional development, knowledge sharing, and networking within the architectural community. This year’s t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000