MNRE to Provide Central Financial Assistance to Install Grid-Connected Solar Rooftop Projects in Tamil Nadu
The Ministry of New and Renewable Energy (MNRE) will provide central finance assistance (CFA) at the rate of Rs.22.50 (~$0.3371)/W to install grid-connected solar rooftop power projects. This will amount to a subsidy of 30 percent on the benchmark cost of Rs.75 (~$1.10)/W.
The subsidy will apply to the installation of 100 MW of grid-connected solar rooftop projects in Tamil Nadu under the MNRE’s “Grid-Connected Rooftop and Small Solar Power Projects Program.” The developers can avail the benefits under the program on a first come, first serve basis.
In September this year, the government of Tamil Nadu approved Rs.6.75 billion (~$100.72 million) to subsidize solar rooftop projects that will generate 300 MW.
The MNRE has established a target of 3,500 MW of rooftop solar in Tamil Nadu by the year 2022. Rooftop solar adoption in India has been slow with approximately 600 MW installed so far in India, according to Mercom India Project Tracker.
Image credit: By Narendra Modi [CC BY-SA 2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons