CABINET OKAYS RS 75,000-CRORE 'FREE ELECTRICITY' SOLAR SCHEME

Why in the news?

The Union Cabinet sanctioned ₹75,021 crore for ‘PM-Surya Ghar: Muft Bijli Yojana’ to boost rooftop solar installations in India.
Aims to provide 300 units of “free electricity” monthly to one crore households.

source: pib

About “PM Surya Ghar Muft Bijli Yojana”

IREDA emphasised the importance of “PM Surya Ghar Muft Bijli Yojana,” a rooftop solar scheme.
With an investment surpassing Rs. 75,000 crores, it targets solarizing 1 crore households, offering up to 300 units of free monthly electricity.
The scheme promotes renewable energy awareness, aligning with India’s goals of achieving Net-Zero emissions by 2070 and Energy Independence by 2047.

What is India’s Renewable Energy Development Agency (IREDA)?

● IREDA is a mini ratna company established in 1987 under the Ministry of New and Renewable Energy (MNRE).

● Specialised in renewable energy project financing.

● Key player in India’s renewable energy growth and sustainability goals.

Government Initiatives for Renewable Energy:

● PM-KUSUM Scheme

● PLI Scheme for Solar PV Manufacturing

● 100% FDI in Renewable Energy

● Atal Jyoti Yojana

● International Solar Alliance

● One Sun, One World, One Grid (OSOWOG)

● National Solar Mission

● Suryamitra Skill Development Programme

● Pradhan Mantri Suryodaya Yojana

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