INDIA'S ROOFTOP SOLAR (RTS)

Why in the News?

India’s rooftop solar (RTS) capacity saw significant growth, adding 2.99 GW in 2023-2024, marking the highest annual increase.
With a total RTS capacity of 11.87 GW as of March 2024, India aims to ramp up efforts to meet its escalating energy demands.

Source: IEEFA

Leading states :

Gujarat, Maharashtra, and Rajasthan are leading states in RTS.
India’s solar energy capacity increased 30 times in the last 9 years, reaching 84.27 GW by May 2024.
The National Institute of Solar Energy (NISE) estimates India’s solar potential at 748 GWp.

About PM Surya Ghar Muft Bijli Yojana

Scheme Overview: Provides 300 units of free electricity per month to beneficiaries, with a ₹75,000 crore investment by the central government.
Announcement: Initially introduced by the Finance Minister in the interim budget speech.
Target: Aims to light up 1 crore households.
Promotion: Urban Local Bodies and Panchayats incentivized to promote rooftop solar systems.

Financial Support

No Financial Burden: Significant subsidies will be provided directly to bank accounts, along with highly concessional bank loans.

Associated Article:

https://universalinstitutions.com/pms-solar-rooftop-scheme/

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