SRISTI Scheme 2024 – Rooftop Solar Power Plant Subsidy Proposed by Central Govt.

MNRE SRISTI Scheme 2024 - Sustainable Rooftop Implementation for Solar Transfiguration of India, incentives as rooftop solar power plant installation subsidy proposed by central government

Ministry of New & Renewable Energy, Central Government has proposed SRISTI Scheme 2024. This “Sustainable Rooftop Implementation for Solar Transfiguration of India (SRISTI) scheme” will provide incentives for the installation of rooftop solar power plant projects in India. This concept of solar power plant subsidy will form the basis of the revised scheme of MNRE to implement solar rooftop projects in Phase II. Moreover, CCEA note which was submitted earlier to the Union Cabinet in April will get replaced by this SRISTI Scheme.

The primary objective of this proposed scheme is to generate 40 GW power from the solar rooftops till the financial year 2023-2024. For this reason, central govt. is going to spend Rs. 23,450 crore for this scheme.

Salient Features of SRISTI Scheme 2024

The important features and highlights of SRISTI Scheme 2024 are as follows:-

SRISTI Scheme – Incentives

Central Govt. is going to provide incentives for successful installation of solar projects:-

  1. Govt. provides incentives for subsidy to users of the residential sector at Rs. 18,000/KW which will get calculated at benchmark cost of Rs. 60,000/KW.
  2. Subsequently, govt. will also provide incentives to the Discoms for various sectors which includes social, institutional, government sectors, commercial and industrial sector. The rates are fixed at Rs. 5,500/KW which govt. will calculate at total cost of Rs. 55,000/KW.
  3. Under this solar subsidy scheme, govt. will provide total incentive of Rs. 9000 crore for installation of power plants of 5,000 MW capacity.
  4. Moreover, govt. will provide incentives for Discoms of total 14,450 crore for installations of solar rooftops of 35,000 MW.
  5. Furthermore, total outlay of this scheme is Rs. 23,450 crore for power generation of 40 GW capacity of solar rooftops.

This scheme will increase the use of solar energy in India and residential people can adopt for cleaner electricity generation mechanism.

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