The Union Ministry of Power has released the long-awaited net metering policy for rooftop solar installation rules under the Rights of Consumers Rules 2020. The new rules allow prosumers to get net metering for up to 500 kW or the sanctioned load, whichever is less, and gross metering for loads over 500 kW. The commission has implemented time-of-day tariffs to encourage consumers to install energy storage. They can use the stored solar energy or feed it into the grid at peak hours.

With the use of net metering, net-billing, or net feed-in, the distribution licensee may install a solar energy meter to measure the gross solar energy generated by the grid-connected rooftop solar system for the purpose of renewable energy purchase obligation (RPO) credit, if any. The commissions may also allow gross metering for prosumers who choose to sell all of their generated solar energy to the distribution licensee rather than using net metering, net billing, or net feed-in. The commission will determine the feed-in tariff for gross metering in accordance with tariff laws.

Net metering for rooftop solar installations was previously limited to one megawatt (MW) until the government considered further reducing it to 10 kW in December 2020.

Several industry experts argued that prohibiting net-metering above 10 kW would be detrimental to micro, small, and medium-sized businesses operating in the rooftop segment.

The Top 5 states with the highest number of installed rooftop solar capacities in India are Rajasthan, Maharashtra, Tamil Nadu, Karnataka, and Gujarat, making close to 50% of India’s total solar capacity. Know more about each state’s solar policy.

The arrangements for net-metering, gross-metering, net-billing or net feed-in shall be in accordance with the regulations made by the State Commission, from time to time.

MYSUN’s Take

At MYSUN, we believe that amendment in the rooftop solar installation policy has a very crucial role to play when it comes to building a sustainable and prosperous nation. A progressive and clear solar policy will fast-track the decision-making process for potential consumers. Net-metering is a crucial benefit and a regressive policy posed a massive danger, especially for larger rooftops, which actually stand to benefit the most when deciding to go solar. We look forward to the positive effect that this step will bring forward.

The recent announcement by the energy minister of Maharashtra, Nitin Raut, focuses more on renewable sources of energy. The state is set to “go green” by generating 17,385MW from solar projects in the next five years.

Earlier, It was estimated that Maharashtra can generate 25,000 MW from solar projects but with this announcement coming from the energy minister, the energy department has developed a new ambitious renewable energy policy (REP) to generate 17,385MW from solar projects in the next five years.

The renewable energy policy will attract Rs 75,000 crore investment in the energy sector and other related businesses.

Also, Maharashtra electricity regulatory commission has set an ambitious target for the state to meet 25% of its demands from renewable sources over the next five years.

Based on these recent developments in Maharashtra, now is the right time to go solar and contribute our part towards a sustainable environment. Solar systems can be a great addition to offices or industrial plants as it helps in cutting down electricity bills by 80% which leads to higher savings.

MYSUN has made it easy for people to switch to solar by their different financing options. Now you can easily calculate your solar savings on your fingertips by using their solar calculator that gives you an estimate of the entire cost of a solar system. You can easily get to know the amount of savings you will achieve going solar

With MYSUN solar financing you can choose a payment plan that suits you, Here is a brief about MYSUN solar financing plans:

CAPEX - Pay the Capital Cost of Solar System Upfront

The term CAPEX means Capital Expenditure. In this financing method, you will pay the entire cost of the solar system upfront. This is the best deal for your business as by this method as this is interest-free. It turns out to be the most profitable financing solution. The Levelized cost of electricity and the cost of the solar system is the lowest in this model giving you the best ROI.

MYSUN DPA - Defer the Cost of Solar in Easy Instalments

In this financing method, you can own the entire solar system by paying a 25 to 30 % down payment and paying the rest over 3 to 5 years based on the financing plan you choose. This enables you to enjoy the benefits of solar with reduced electricity expenditure and accelerated depreciation. In the DPA model, MYSUN has designed the plan in such a way that the amount saved monthly on the electricity bill is greater than the installments.

PPA (Power Purchase Agreement) - Pay Nothing for the Solar System

In this model, you don’t have to pay any upfront cost for the solar system. You will have to sign an agreement called Power Purchase Agreement(PPA) with your solar installer or the third party company to buy the electricity generated from the solar system. The agreement fixes a tariff for the next 15 to 25 years.

Don't wait and Start your solar journey today with MYSUN

With such a wide variety of solar financing and buying options available with MYSUN, there is no reason left for your business not to optimize its power expenses. By going solar you will reduce millions on your electricity bills and this will allow you to reinvest the amount for your business growth. Solarize your business today.

Go solar. Speak to MYSUN Solar Advisors on +91 8448380218 or write to them at [email protected].