Business News
1 min read | Updated on February 29, 2024, 17:40 IST
SUMMARY
The proposed scheme will result in addition of 30 GW of solar capacity through rooftop solar in the residential sector, generating 1000 BUs of electricity and resulting in reduction of 720 million tonnes of CO2 equivalent emissions over the 25-year lifetime of rooftop systems.
The households will be able to save electricity bills as well as earn additional income through sale of surplus power to DISCOMs.
The Union Cabinet on Thursday approved PM-Surya Ghar: Muft Bijli Yojana, providing assistance of up to ₹78,000 for installing rooftop solar plants and free electricity for up to 300 units per month for one crore families.
The scheme, which will have an outlay of ₹75,021 crore, offers a Central Financial Assistance (CFA) of 60% of the system cost for 2 kW systems and 40% of the additional system cost for systems between 2 to 3 kW capacity.
"At current benchmark prices, this will mean ₹30,000 subsidy for 1 kW system, ₹60,000 for 2 kW systems and ₹78,000 for 3 kW systems or higher," the government said.
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