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PM Surya Ghar Yojana: Rooftop Solar Capacity Jumps More Than 50% in Just Half a Year

04 Nov 2024

According to a report, the central government's flagship initiative, PM Surya Ghar: Muft Bijli Yojana, has experienced an impressive growth of over 50% in rooftop solar power capacity in just six months since its launch.

The PM Surya Ghar: Muft Bijli Yojana received approval on February 29, with an outlay of ?75,021 crore. This initiative aims to enhance the share of rooftop solar power and also empower residential households to generate their own electricity.

Union Minister of New and Renewable Energy Pralhad Joshi recently said that the government has installed rooftop solar power connections at an expense of about ?4 lakh under this flagship initiative. This totals 1.8 GW of newly installed residential rooftop solar capacity within just six months. As per a report, this figure represents over half of India's entire residential solar rooftop capacity.

The report indicated that by March, the installed capacity of residential solar rooftops in India reached approximately 3.2 GW, which is 27% of the total units installed nationwide. As of March, the cumulative installed capacity was nearly 11.9 GW, with the commercial and industrial sectors making up about 60%.

To enhance the viability of rooftop solar installations in homes, the government has raised the subsidy for solar modules from 40% to 60%. Moreover, it is offering loans to households with a minimum interest rate of 7%.

The scheme is expected to significantly transform India's solar landscape, aiming to increase residential solar capacity to 30 GW by 2027, according to the report. This program will play a crucial role in achieving India's renewable energy goals and net-zero targets.

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