Launch of Rooftop Solar Scheme Announced

The launch of the rooftop solar scheme was announced yesterday, by the Prime Minister, Shri Narendra Modi.

The scheme, known as the ‘PM Surya Ghar: Muft Bijli Yojana’, has an outlay of over Rs.75,000 Crore and seeks to “light up 1 crore households by providing up to 300 units of free electricity every month”.

An announcement regarding this initiative was made by the Union Minister of Finance, Smt Nirmala Sitharaman during the Interim Budget 2024. The Minister stated that the benefits expected under the scheme included annual savings of up to Rs.15,000 to Rs.18,000, charging of electric vehicles, entrepreneurship opportunities for vendors for supply and installation, and employment opportunities for youth with technical skills in manufacturing, installation, and maintenance.

The press release dated February 13, 2024, specifies that stakeholders can make the applications on the national online portal, To ensure that there is a seamless switch and no financial strain, benefits in the form of subsidies and concessional bank loans would be provided.  Further, the urban local bodies and panchayats would be incentivised to encourage the adoption of rooftop solar systems in their respective jurisdictions.