Under the scheme, one crore houses will get loans and subsidies to install solar plants on their rooftops. The plan is to install solar plants on rooftops and provide 300 units of free electricity per family every month to one crore families has been approved. Every family will get a subsidy of Rs 30,000 for a plant of one kilowatt capacity and Rs 60,000 for a plant of two kilowatt capacity.

After the installation of rooftop solar by the vendor, the net metering of DISCOMs will be installed and its proof will be uploaded on the portal, after which, the subsidy amount will be transferred directly to the customer's bank account.

Apart from the subsidy, the remaining cost of rooftop solar panels would also be available to the beneficiaries in the form of loan at affordable interest rates from banks. Banks will not charge interest more than 0.5 per cent above the repo rate.

A subsidy of Rs 18000 per kilowatt for 500 kilowatts will be available for housing societies.

Under the PM Suryodaya Yojana, since 1 crore rooftop solar panels would be installed by the year 2026, It means that all those companies involved in this process would see massive rise in their share prices. So lets know who are those shares.

First, the companies which make solar panels such as SW solar, Waree Solar will gain the maximum.

Then comes companies involved in inverter and wires because installation would require batteries and wires as well. Companies involved in these products are havells, amara raja and exide as major ones.

Then comes wire companies such as havells, polycab, KEI, birla cables as major players.

At the same time, smart meters are being installed across homes so smart meters manufacturing companies such as Genus power, GMR power and urban infrastructure and others would be major beneficiary.

And REC limited is the nodal company for execution of this scheme so it’s shares are expected to rise further. Also look at IREDA and Power finance corporation as big bets.

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