In just six months since its launch in February, the Union government's flagship initiative, PM Surya Ghar: Muft Bijli Yojana, has seen a notable increase in rooftop solar capacity of over 50%, according to a report.
The PM Surya Ghar: Muft Bijli Yojana was approved on February 29 with a budget of Rs 75,021 crore. The initiative aims to enhance the share of solar rooftop capacity. It will also give private homes the ability to generate their own electricity.
Pralhad Joshi, Minister of New and Renewable Energy, stated that the government has installed around 4 lakh rooftop solar utilities as part of the flagship scheme.
In all, 1.8 gigawatts (GW) of new residential rooftop solar capacity were installed over a six-month period.
According to a survey by JMK Research and Analytics, this already accounts for more than half of India's residential solar rooftop capacity.
The report showed that till March, the capacity of residential solar rooftop installed in India was about 3.2 GW, or 27 per cent of the total units installed in the country.
The cumulative installed capacity stood at almost 11.9 gigawatts (GW) as of March, with the commercial and industrial segment accounting for about 60 per cent.
To encourage more households to choose rooftop solar systems, the government has boosted the module subsidy to 60%, up from 40% previously. It has also issued loans to households at a minimum interest rate of 7%.
The initiative is anticipated to transform India's solar story, increasing household solar capacity to 30 GW by 2027, according to the report. The scheme will help India achieve its renewable energy and net-zero aspirations.
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