News Excerpt:
The Prime Minister announced PM Surya Ghar scheme to encourage people to install solar panels on their rooftops.
About the scheme:
- Objective: The scheme, worth over ₹75,000 crore, aims to light up one crore households by providing up to 300 units of free electricity.
- Ministry: Ministry of New and Renewable Energy.
- Substantive subsidies and concessional bank loans will be provided to the scheme beneficiaries, which will be transferred directly to their bank accounts.
- All stakeholders will be integrated into a National Online Portal, which will provide further convenience
- To popularize the scheme at the grassroots, urban local bodies and panchayats will be incentivised to promote rooftop solar systems in their jurisdictions.
- Union Finance Minister Nirmala Sitharaman earlier announced the scheme during the interim budget for 2024-25.
Significance of the scheme
- The scheme will lead to more income, lesser power bills and employment generation for people.
- The rooftop solar initiative, which incentivises people to buy solar installations and feed energy back to the grid, could lead to savings of ₹15,000 annually.
- From substantive subsidies to heavily concessional bank loans, the scheme will ensure that there is no cost burden on the people.
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Rooftop Solar Panels: Definition: Rooftop solar panels are photovoltaic panels installed on a building’s roof, integrated into the main power supply system. Benefits
India’s current solar capacity:
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