Free Electricity For 10 Million Households, Pradhanmantri Suryoday Yojana:

   PM Modi launched the 'Pradhanmantri Suryoday Yojana,' offering free rooftop solar to 10 million     households. Know the cost savings and the benefits under the scheme.

Prime Minister Narendra Modi on January 23, 2024 announced the initiation of the 'Pradhanmantri Suryoday Yojana,' aiming to provide free rooftop solar installations to 10 million households in the country. “This will not only reduce the electricity bill of the poor and middle class, but will also make India self-reliant in the energy sector," he said. At present, only citizens in the below poverty line (BPL) category are eligible for the scheme.

Costs And Savings

A solar rooftop system only incurs initial capital investment and maintenance costs. Installation expenses typically range from Rs 1.5 lakh to Rs 3.5 lakh for an average household requiring 3-5KW setup. 

The government has set a target of 40 GW annual solar power generation for the next five years to reach a 500 GW non-fossil fuel capacity target by 2030. Cumulative installed capacity in the rooftop solar segment in the country has crossed 10 GW as of December 2023.

Also, the rooftop solar adoption hasn’t gained the desired momentum due to lack of easy finance, which is expected to get rectified with the PM Suryoday Yojana.

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