Empowering One Crore Households with Free Solar Electricity
Finance Minister Nirmala Sitharaman announced the ambitious Pradhan Mantri Suryoday Yojana, aiming to provide one crore households with up to 300 units of free electricity monthly. Prime Minister Narendra Modi initially introduced the scheme in January, focusing on the installation of rooftop solar systems.
Significant Annual Savings and Multifaceted Benefits
Sitharaman highlighted the substantial savings for households, ranging from Rs 15,000 to Rs 18,000 annually, achieved through free solar electricity and selling surplus energy to distribution companies. The scheme not only benefits households but also aids electric vehicle charging, creates entrepreneurship opportunities, and generates employment for the youth in manufacturing, installation, and maintenance.
Commitment to ‘Net-Zero’ and Offshore Wind Energy
In alignment with India’s commitment to achieving ‘net-zero’ by 2070, Sitharaman announced Viability Gap Funding (VGF) for harnessing offshore wind energy, marking a significant move towards sustainable energy solutions. India presently boasts a solar energy-installed generation capacity exceeding 73 GW.
Transformative Synergy for the Power Sector
Anujesh Dwivedi, Partner at Deloitte India, praised the initiative, emphasizing its transformative synergy for the power sector. By empowering one crore households with rooftop solar installations, the scheme not only advances renewable energy capacity but also addresses financial viability and subsidy dependence issues of distribution companies (DISCOMs).
Strategic Move Towards Resource-Efficient Economic Growth
Industry leaders, including Ashwani Sehgal, President of the Indian Solar Manufacturers’ Association, and CEOs of Essar Power and ReNew, lauded the government’s commitment to providing free rooftop solar electricity. The initiative signifies a strategic move towards resource-efficient economic growth, ensuring energy security, stimulating entrepreneurship, and fostering employment in the evolving renewable energy landscape.
Source：deccanherald.com
