The Business Bytes
Bhubaneswar, September 07, 2024 (TBB Bureau): TP Central Odisha Distribution Limited (TPCODL), a joint venture of Tata Power and the Government of Odisha, has announced an ambitious plan to solarise one lakh residential buildings under the PM-Suryaghar: Muft Bijli Yojana. As the designated State Implementing Agency for this initiative, TPCODL aims to install rooftop solar power systems for residential consumers within its service area, contributing to the generation of 300 MW of solar power in a distributed generation mode. This is expected to result in a reduction of carbon dioxide emissions by 4.5 lakh tons annually.
To encourage residential consumers to set up rooftop solar power plants, the government is offering a Central Financial Assistance of up to Rs 78,000 for a 3 kW system. Additionally, residents of Bhubaneswar city can benefit from an extra State subsidy of Rs 20,000 per kW of installed capacity under the Green City Mission. For those requiring financial support, a bank loan of up to Rs 2 lakh is available at an interest rate of 7% with a tenure of 120 months and no pre-payment penalties.
The initiative also extends benefits to Residential Welfare Associations (RWAs) and Group Housing Societies (GHS), which can install rooftop solar systems to offset their common area power consumption at a rate of 3 kW per household. These associations can avail a central subsidy of Rs 18,000 per kW, with a maximum capacity of 500 kW under the net metering regulations.
By participating in the PM-Suryaghar: Muft Bijli Yojana, consumers can significantly reduce their grid power consumption by approximately 1200 units per kW of installed capacity. Beyond the financial savings, this initiative allows consumers to make a meaningful contribution to combating global warming, climate change, and promoting sustainable development.
Interested customers can visit the program’s official website, www.pmsuryaghar.gov.in, to register, submit applications, select vendors, and receive comprehensive guidance on the entire process. To facilitate the installation process, TPCODL has empaneled 75 vendors to provide support to consumers, including the supply of approved systems and components. Every system will be inspected and certified by TPCODL before being connected to the grid, ensuring quality and safety.
Speaking on the initiative, Arvind Singh, CEO of TPCODL, said, “PM-Suryaghar: Muft Bijli Yojana perfectly aligns with our broader mission of fostering sustainable energy solutions across Central Odisha. By providing clean, renewable energy options, this initiative not only significantly reduces the financial burden on households but also facilitates a more environmentally conscious lifestyle for our consumers. With flexible financing options and extensive consumer support, we aim to make the transition to solar energy smooth and accessible to all. Our commitment is to deliver a hassle-free installation experience while ensuring that every participant in this program is empowered to actively contribute to a greener, more sustainable future.”
Through the PM-Suryaghar: Muft Bijli Yojana, TPCODL is poised to play a pivotal role in driving the adoption of solar power in Central Odisha, promoting a shift towards cleaner energy and reducing the region’s carbon footprint.
