Updated March 16th, 2024 at 15:35 IST

PM Modi lauds over 1 crore registrations under rooftop solar scheme

Registrations have been pouring in from all parts of the nation, said PM Modi.

Reported by: Business Desk
PM Modi claimed that people in the state are angry with the KCR-led party. | Image:ANI
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PM's solar push: Calling the maximum number of people opting for solar power as "outstanding news", Prime Minister Narendra Modi on Saturday said more than one crore households have registered under the rooftop solar scheme 'PM-Surya Ghar: Muft Bijli Yojana' so far.   

"Registrations have been pouring in from all parts of the nation. Assam, Bihar, Gujarat, Maharashtra, Odisha, Tamil Nadu and Uttar Pradesh have seen over 5 lakh regulations," he said in a post on 'X'.  The Prime Minister also asked those who have not yet registered to do so at the earliest, noting that the initiative promises substantial reductions in electricity expenses for households along with ensuring energy production.

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"It's poised to encourage Lifestyle for Environment (LiFE) on a grand scale, contributing to a better planet," PM Modi said. The Union Cabinet, chaired by the prime minister, last month approved the scheme with a total outlay of Rs 75,021 crore for installing rooftop solar panels and providing free electricity up to 300 units every month for one crore households. 

"In about a month since it was launched, over 1 crore households have already registered themselves for the PM-Surya Ghar: Muft Bijli Yojana...Those who haven’t registered yet should also do so at the earliest," Modi said on 'X'. The Prime Minister had launched the scheme on February 13, 2024.

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The scheme provides a central financial assistance (CFA) of 60 per cent of system cost for 2 kW systems and 40 per cent of additional system cost for systems between 2 kW to 3 kW capacity. The CFA will be capped at 3 kW. At current benchmark prices, this will mean Rs 30,000 subsidy for 1 kW system, Rs 60,000 for 2 kW systems and Rs 78,000 for 3 kW systems or higher.

The households can apply for subsidy through the National Portal and can also select a suitable vendor for installing rooftop solar. The National Portal is assisting the households in their decision-making process by providing relevant information like appropriate system sizes, benefits calculator, vendor rating etc.

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Households will be able to access collateral-free low-interest loan products of around 7 per cent at present for installation of residential RTS (rooftop solar) systems up to 3 kW. Other Features of the scheme include a Model Solar Village to be developed in each district to act as a role model for the adoption of rooftop solar in rural areas.

Besides, urban local bodies and Panchayati Raj institutions will also benefit from incentives for promoting rooftop solar (RTS) installations in their areas. The scheme provides a component for payment security for renewable energy service company (RESCO) based models as well as a fund for innovative projects in RTS.

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Through this scheme, the households will be able to save electricity bills as well as earn additional income through the sale of surplus power to Discoms. A 3 kW system will be able to generate more than 300 units a month on average for a household.

The scheme is aimed at adding 30 GW of solar capacity through rooftop solar in the residential sector, generating 1,000 BUs (billion units) of electricity and resulting in a reduction of 720 million tonnes of CO2 equivalent emissions over the 25-year lifetime of rooftop systems.

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It is estimated that the scheme will create around 17 lakh direct jobs in manufacturing, logistics, supply chain, sales, installation, O&M and other services. For availing benefits of PM-Surya Ghar: Muft Bijli Yojana by households, the government has launched a massive campaign since the launch of the scheme for raising awareness and generating applications from interested households. 

(With PTI inputs) 

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Published March 16th, 2024 at 15:35 IST