MNRE notifies Scheme Guidelines for Rs 500 crore Innovative Projects

by Psu Connect
Date: 14-10-24

Under the scheme component 'Innovative Projects’, Rs 500 crore has been earmarked to encourage advancements in rooftop solar technologies, business models, and integration techniques.

Union Ministry of New and Renewable Energy has notified Scheme Guidelines for the implementation of ‘Innovative Projects’ under PM-Surya Ghar Muft Bijli Yojana.

Under the scheme component 'Innovative Projects’, Rs 500 crore has been earmarked to encourage advancements in rooftop solar technologies, business models, and integration techniques.

The component seeks to identify and support startups, institutions, and industries in piloting new concepts, with a focus on emerging solutions like blockchain-based peer-to-peer solar trading, smart materials, and rooftop solar integrated with electric vehicles and battery storage.

To drive this forward, MNRE will invite proposals and encourage joint research and international collaborations. The National Institute of Solar Energy (NISE) will serve as the Scheme Implementation Agency (SIA) for the Innovative Projects Component.

Selected projects will receive financial assistance of up to 60% of the project cost or Rs 30 crore, whichever is lower. Additionally, annual innovation awards will be granted to encourage further advancements, with prizes up to Rs 1 crore.

The Government of India approved the PM-Surya Ghar: Muft Bijli Yojana on 29th February 2024, with the aim to increase the share of solar rooftop capacity and empower residential households to generate their own electricity. The scheme has an outlay of Rs 75,021 crore and is to be implemented till FY 2026-27.