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The Jammu and Kashmir Administrative Council (AC) under the Chairmanship of Lieutenant Governor Manoj Sinha approved 200 MW grid-tied rooftop solar energy plants under the “Solar City Mission”.
AIR Correspondent reports on the Government of India’s Grid connected Rooftop Solar Scheme, Phase II for the residential sector of J&K. This scheme will ensure that all electricity requirements of the city can be met by solar energy.
The project will see 200 MW grid-tied rooftop solar panels installed on 50000 residential buildings in the state by Jammu and Kashmir Energy Development Agency (JAKEDA), at an estimated cost Rs 1040 crore. This will create 8000 employment, generate 280 million units of energy and reduce carbon emission by 5.44 million tons.
The project will be complete by March 2024, and it will last for 25 years.
The Central Sector Scheme provides a central subsidy component of 40% of the project cost and a state subsidy component of 25% of the project cost for the installation of solar power panels, below 3 kW capacity, beyond which the central subsidy component remains at 20%. The subsidy will be provided to the beneficiaries through the DBT mode.
These rooftop solar power plants will be connected to the grid on a net metering basis. The investments made by the beneficiaries will be recovered at a rate of 25% annually on account of the saving of energy, with a payback period of approximately 4 years.