According to reports, Delhi government has come up with a Cabinet note for solar power units on rooftops of households in the Capital.
After speaking to all stakeholders, the government is finally ready with the policy, according to which anyone can use their roof to set up a solar power unit. A nod from the Law and Finance department is awaited before the note is put up in front of the Cabinet for approval. The government will then take around six months to kick off the scheme.
House owners can either lease out their roof to a developer, who will then set up the unit, or they can pay 30 per cent of the cost of installation. The remaining 70 per cent will be financed through banks.
House owners will get to earn Rs 17 per unit of power produced through the solar panels, which will be directly fed into a grid. They can sell the power for 25 years. “The house owner will easily be able to earn about 19 per cent returns on his investment. In nine years, the returns will go further up. There will also be an income tax rebate on this investment,” said a senior official.
The cost of setting up a 5-KW unit is around Rs 7.5 lakh and requires 2,000 sq feet of roof space. After signing a Power Purchase Agreement with the discoms, the house owner will pay Rs 3 lakh, on which he will get returns of close to Rs 60,000 per annum.
“More than 50 per cent of Delhi residents live in their own homes, and, on an average, an upper-middle class family has this kind of roof space available with them,” added the official.
The government is working out modalities of the scheme’s benefits. The discoms may even deduct the amount the house owner earns through the solar unit from the electricity bill.
“In the next three years, we plan to produce at least 20 MW power through solar energy. We will also be constituting a Delhi Renewable Energy and Power Company, which will be spearheading this programme,” Chief Secretary Rakesh Mehta said.
The discoms stand to benefit too. “Since the power produced by these units will be costly, discoms will get about Rs 13 subsidy per unit from the government,” the official added.