MNRE Unveils Rs 500 Cr ‘Innovative Projects’ Scheme To Boost Rooftop Solar Advancements

The Ministry of New and Renewable Energy (MNRE) has released the guidelines for the ‘Innovative Projects’ component under the PM-Surya Ghar: Muft Bijli Yojana. Announced on October 8, 2024, this component will allocate Rs 500 crore to promote advancements in rooftop solar technologies and business models.

The initiative aims to support startups, institutions, and industries in developing new concepts, such as blockchain-based peer-to-peer solar trading and the integration of rooftop solar with electric vehicles and battery storage.

The National Institute of Solar Energy (NISE) will act as the Scheme Implementation Agency (SIA), with selected projects eligible for financial assistance of up to 60% of the project cost, capped at Rs 30 crore. Additionally, annual innovation awards of up to Rs 1 crore will be granted to encourage further breakthroughs in the solar sector.

This announcement follows the broader PM-Surya Ghar: Muft Bijli Yojana, approved by the government in February 2024, which aims to increase solar rooftop capacity across residential households. With a total outlay of Rs 75,021 crore, the scheme is set to be implemented until FY 2026-27.