• UGI USER
  • Apr 15, 2024
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POLICY PUSH AND SIMPLIFICATION ACCELERATE RESIDENTIAL ROOFTOP SOLAR ADOPTION.

Why in the news?

Residential rooftop solar market booming due to policy push, simplification, and demand surge, with SolarSquare leveraging opportunities.

source:slideserve

About the SolarSquare’s Market Strategy:

  • Started as a B2B rooftop solar company in 2015, shifted focus to residential market in 2020 due to pandemic-induced demand.
  • Addresses consumer pain points with high-quality installation, reliable aftersales, and easy financing options.
  • Operates in 15 cities, with 80% of business in the residential sector.
About PM Surya Ghar Muft Bijli Yojana:

  • Scheme offering 300 units of free electricity monthly with a ₹75,000 crore investment.
  • Targeting 1 crore households for implementation.

Incentives and Guarantees:

  • Urban Local Bodies and Panchayats are incentivized for promoting rooftop solar systems.
  • The Central Government ensures no financial burden by providing subsidies and concessional bank loans.

Expected Benefits:

  • Annual savings for households, electric vehicle charging, entrepreneurship, and employment opportunities outlined.

Source:https://indianexpress.com/article/business/companies/simplification-policy-push-has-turbocharged-residential-rooftop-solar-solarsquare-co-founder-9270254/#:~:text=In%20July%202022%2C%20the%20National,seamless%20once%20the%20integration%20happens.