PM Surya Ghar Yojana: Rooftop solar capacity rose over 50% in 6 months

05 Nov 2024 CW Team

India’s PM Surya Ghar: Muft Bijli Yojana has recorded a remarkable increase of over 50% in rooftop solar capacity within six months of its launch, according to a recent report. The Union government approved the scheme on February 29 with a budget of Rs 750.21 billion, aiming to expand solar rooftop capacity and enable residential households to generate their own electricity.

Minister of New and Renewable Energy Pralhad Joshi announced that around 400,000 rooftop solar connections have been installed so far, adding 1.8 gigawatts (GW) of new capacity. As of March, India’s total residential solar rooftop capacity reached 3.2 GW, with overall installed capacity at 11.9 GW, 60% of which serves commercial and industrial users.

To encourage adoption, the government has raised the subsidy on rooftop solar modules to 60% and is offering loans at a 7% interest rate. The scheme is expected to drive residential solar capacity to 30 GW by 2027, contributing significantly to India’s renewable energy goals and net-zero targets.

(ET)

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