The Indian government is set to provide free Rooftop Solar Installations to one crore households consuming up to 300 units of electricity monthly under the newly introduced ‘Pradhan Mantri Suryoday Yojna.’ Union Minister for Power and Renewable Energy, RK Singh, confirmed that households falling within this consumption category will not incur charges for the installation of solar panels on their rooftops. The scheme, mentioned in the recent Budget by Finance Minister Nirmala Sitharaman, aims to empower 10 million households to sell excess solar energy, with anticipated annual savings ranging from ₹15,000 to ₹18,000 per household.
Singh clarified that the Pradhan Mantri Suryoday Yojna will encompass low-income homes covered under the Pradhan Mantri Awas Yojna, in addition to other households with monthly electricity consumption up to 300 units. The government has entrusted eight public sector undertakings with the nationwide implementation of the scheme, overseeing the installation of solar panels in one crore households. The funding for this initiative will be sourced partly from a subsidy increase for rooftop solar to 60%, supplemented by loans from institutions such as REC Ltd.
Singh elucidated that the surplus solar power produced will be utilized to repay the loan acquired by the public sector undertakings, with a loan tenure expected to extend up to 10 years. Prime Minister Narendra Modi has declared the initiation of the Pradhan Mantri Suryoday Yojna for one crore households. While households consuming more than 300 units of electricity per month can also participate, they will need to independently install the rooftop panels, albeit still qualifying for a subsidy.
The government is actively working on facilitating low-cost financing options for rooftop solar systems and enhancing its list of vendors to empower consumers with information for making informed decisions regarding the quality of solar panels.
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