In a groundbreaking initiative, the Indian government has unveiled the ‘Pradhan Mantri Suryoday Yojna,’ a rooftop solar scheme that aims to provide free solar panels for one crore households consuming up to 300 units of electricity monthly. The Union Minister for Power and Renewable Energy, RK Singh, announced that households falling under this category will not bear any cost for the installation of solar panels on their rooftops.
The recently presented Budget outlined the scheme’s potential to allow 10 million households to sell surplus solar energy, offering annual savings ranging from ₹15,000 to ₹18,000 per household.
Singh specified that the scheme includes low-income households covered under the Pradhan Mantri Awas Yojna, along with other households consuming up to 300 units of electricity per month.
To implement the ambitious program nationwide, eight public sector undertakings have been assigned the responsibility of solar panel installation in these one crore households. The funding for this initiative will be sourced partly from an increased subsidy for rooftop solar, now set at 60 percent, and the remaining portion will be covered by loans from institutions such as REC Ltd.
The surplus solar power generated by these households will be utilized to repay the loans acquired by the public sector undertakings, with the loan term anticipated to extend up to 10 years.
Prime Minister Narendra Modi formally launched the Pradhan Mantri Suryoday Yojna, emphasizing its scope to benefit one crore houses. While the scheme is open to households consuming more than 300 units of electricity per month, they are required to independently install rooftop panels, although they remain eligible for a subsidy.
In tandem with this initiative, the government is actively working to facilitate low-cost financing for rooftop solar projects. Additionally, efforts are underway to enhance the vendor list, aiding consumers in making informed decisions about the quality of solar panels.
