Prime Minister Narendra Modi on Monday announced the launch of the Pradhanmantri Suryodaya Yojana (PMSY), a government scheme under which one crore households will get rooftop solar power systems. The scheme aims to provide electricity to low and middle-income individuals through solar rooftop installations, along with offering additional income for surplus electricity generation.
Speaking at the launch event, PM Modi said that the scheme would help India achieve its goal of becoming a net-zero carbon emitter by 2070.
“The power of the sun can be harnessed by every household with a roof to reduce their electricity bills and to make them truly aatmanirbhar for their electricity needs,” he said.
Under the scheme, the government will provide a subsidy of up to 40% of the cost of installing a rooftop solar system. The subsidy will be available for households with a monthly income of up to ₹15,000.
The scheme will also provide a mechanism for households to sell surplus electricity generated from their solar systems to the grid.
The PMSY is expected to generate 15,000 megawatts of solar power capacity. This would be equivalent to the power produced by 15 large thermal power plants.
The scheme is expected to create over 1 million jobs in the solar sector.
The PMSY is a major step forward in India’s efforts to promote renewable energy and reduce its reliance on fossil fuels. The scheme is expected to have a significant impact on the lives of millions of Indians.
What are the key benefits of the Pradhanmantri Suryodaya Yojana?
- Reduced electricity bills: Households that install rooftop solar systems under the PMSY will be able to reduce their electricity bills by up to 50%.
- Additional income: Households that generate surplus electricity from their solar systems will be able to sell it to the grid for a profit.
- Clean energy: Rooftop solar systems generate electricity from renewable sources, which help to reduce air pollution and greenhouse gas emissions.
- Job creation: The PMSY is expected to create over 1 million jobs in the solar sector.