Fund may be supplemented on MNRE approval
A Rs.100 crore corpus fund has been earmarked for Payment Security Mechanism (PSM) for de-risking investments in Renewables Energy Service Company (RESCO)-based grid-connected rooftop solar models in the residential sector http://isolaralliance.org.
Further, the fund may be supplemented through other grants, funds and sources after due approval of the Ministry of New and Renewable Energy (MNRE).
This was notified in Scheme Guidelines for implementation of ‘Payment Security Mechanism’ Component and ‘Central Financial Assistance’ Component for RESCO Models and Utility Led Aggregation Models under PM-Surya Ghar: Muft Bijli Yojana.
MNRE elaborated on 14 Jan, saying “The scheme offers two alternative implementation models for the installation of rooftop solar plants for consumers: the RESCO (Renewable Energy Service Company) model, where third-party entities invest in rooftop solar installations, allowing consumers to pay only for the electricity consumed without bearing the upfront costs; and the Utility-Led Aggregation (ULA) model, where DISCOMs or state designated entities will install rooftop solar projects on behalf of individual residential sector households https://www.makeinindia.com/home/.”
It has clarified that these guidelines are in addition to the existing mode of implementation undertaken by consumers (capex mode) through the national portal (https://www.pmsuryaghar.gov.in/), and these alternative models will supplement the national portal-based implementation of the scheme https://www.conexpoconagg.com/. Fiinews.com
