The Indian government is heavily promoting the rooftop solar scheme, offering subsidies through the PM Surya Ghar Yojana. However, Zerodha’s Nithin Kamath raised concerns about how people living in flats or rented homes can benefit from this scheme. He pointed out that, despite the subsidy, only about 10% of homes have installed rooftop solar panels. The main issue is that people living in apartments often can’t install these systems.
Solution by Indian Startup SundayGrids
Nithin Kamath suggested a solution provided by the Indian startup SundayGrids. This company installs solar power plants and allows people to participate in these plants. By joining, individuals earn credits that can be used to reduce their electricity bills. This means you don’t need to install solar panels on your own roof; you can benefit from solar power produced elsewhere. SundayGrids is now operating across India.
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Government Support for Third-Party Solar Models
Nithin Kamath noted that both the central and state governments are supporting third-party solar models. This model is a great option for flat residents to generate solar energy. The startup SundayGrids offers a community solar model, where people can collectively install solar panels in one location rather than on individual rooftops. This system is popular in the US and is now being considered in Delhi. SundayGrids also works on commercial and industrial buildings, installing solar panels on their rooftops. The revenue from this solar power goes to those who invested in the panels.
