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PM-SGMBY Solar Scheme Could Create INR 1.2 Trillion Ecosystem

According to an SBICAPS report, the PM Surya Ghar Muft Bijli Yojana (PM-SGMBY) residential rooftop solar scheme has the potential to generate a INR 1.2 trillion ecosystem, benefiting manufacturers of solar modules, inverters, mounting equipment, and electrical components, along with project developers and EPC players. Key opportunities include INR 480 billion for modules, INR 275 lakh for inverters, and INR 200 lakh for electrical components.

With 720,000 installations within 10 months, the scheme shortens payback periods by 4-5 years. Residential rooftop installations may surpass commercial and industrial segments if net metering, financing, and space challenges are addressed.