Finance Minister Nirmala Sitharaman offered the Union Budget 2024 in Parliament at the moment, February 1, 2024. (Image: PTI)
Prime Minister Narendra Modi introduced the ‘Pradhan Mantri Suryodaya Yojana’ with the goal of putting in rooftop photo voltaic earlier in January.
Interim Budget 2024 Announcements: Finance Minister Nirmala Sitharaman on Thursday mentioned Pradhan Mantri Suryodaya Yojana will allow one crore households to rise up to 300 items of free electrical energy each month and assist them save as much as Rs 18,000 yearly.
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Sitharaman in her interim price range speech mentioned by way of rooftop solarisation, one crore households might be enabled to acquire as much as 300 items of free electrical energy every month.
Prime Minister Narendra Modi introduced the ‘Pradhan Mantri Suryodaya Yojana’ with the goal of putting in rooftop photo voltaic earlier in January.
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What Is Pradhan Mantri Suryoday Yojana?
Prime Minister Narendra Modi on January 22 introduced the ‘Pradhan Mantri Suryodaya Yojana’ beneath which 1 crore households will get rooftop photo voltaic.
PM Modi mentioned (*1*) with the goal of putting in rooftop photo voltaic on 1 crore homes.
This won’t solely scale back the electrical energy invoice of the poor and center class however can even make India self-reliant within the subject of power.”
Subsidy Under The Scheme
Under this Pradhan Mantri Suryodaya Yojana (scheme), the central authorities is offering a considerable 40% subsidy on the set up of photo voltaic panels with a 3-kilowatt capability. For these opting for a bigger capability of 10 kilowatts, a nonetheless appreciable 20% subsidy is being provided.
Benefits Of Pradhan Mantri Suryodaya Yojana
Talking about the advantages, FM Sitharaman knowledgeable the House that there might be “savings up to Rs 15,000-18,000 annually for households from free solar electricity and selling the surplus to the distribution companies.”
The scheme can even assist the charging of electrical autos, entrepreneurship alternatives for numerous distributors for provide and set up and employment alternatives for the youth with technical abilities in manufacturing, set up, and upkeep.
Anujesh Dwivedi, Partner, Deloitte India, mentioned, “Empowering one crore households with rooftop solar installations, delivering up to 300 free units monthly, signifies a transformative synergy for the power sector.”
This initiative not solely advances renewable power capability set up within the nation but additionally addresses the power situation of poor monetary viability and subsidy dependence of DISCOMs, marking a major stride in the direction of sustainability and financial effectivity, Dwivedi mentioned.
Wind Energy
Talking about India’s dedication for ‘net-zero’ by 2070, she introduced a viability hole funding for harnessing offshore wind power.
“Viability gap funding will be provided for harnessing offshore wind energy potential for initial capacity of 1 GW,” she mentioned.
According to the Central Electricity Authority knowledge, India has a photo voltaic power-put in technology capability of over 73 GW.
Similarly, the info confirmed that wind power capability within the nation stood round 45 GW whereas giant hydro (over 25 MW capability every) is 47 GW.
The biomass energy/cogen capability is about 10 GW and that of small hydro (as much as 25 MW) is round 5 GW, whereas the waste-to-power capability stood at 583 MW.
India has set a goal of getting 500 GW of renewable power by 2030 and has 50 per cent of put in energy technology capability from non-fossil gas sources.
