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:-
- This Solar Power Plant Subsidy Scheme will provide incentives for the sustainable implementation of Rooftop.
- Subsequently, this scheme will form the advanced version of the previous MNRE scheme in Phase II.
- Accordingly, govt. will integrate Discoms to implement this solar subsidy scheme.
- Central govt. will provide financial assistance to implement rooftop solar power plants for the residential users.
- Henceforth, users of the residential sectors can install the particular in-line capacity as per their necessity and their SERC (State Electricity Regulation Commission) Regulation.
- Central govt. will provide subsidy up to 5 KWP capacity of power plant.
- Furthermore, govt. aims to generate 40,000 MW power with a total outlay of Rs 23,450 crore.
SRISTI Scheme – Incentives
Central Govt. is going to provide incentives for successful installation of solar projects:-
- 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.
- 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.
- Under this solar subsidy scheme, govt. will provide total incentive of Rs. 9000 crore for installation of power plants of 5,000 MW capacity.
- Moreover, govt. will provide incentives for Discoms of total 14,450 crore for installations of solar rooftops of 35,000 MW.
- 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.