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Pradhanmantri Suryoday Yojana

Pradhanmantri Suryoday Yojana:

PM Modi announced the launch of Pradhanmantri Suryoday Yojana .

  • Currently, there is no centrally compiled estimate of the number of households in India with rooftop solar installations.
  • Pradhanmantri Suryoday Yojana launched on January,2024.
  • Objectives is to
    • Provide affordable solar energy.
    • Increase energy independence
    • Promote environmental sustainability.
  • It will provide incentives and financial assistance to make it affordable for residential consumers to adopt rooftop solar.
  • This scheme comes after India missed its initial target of 40 gigawatts of rooftop solar capacity by 2022 under the existing Rooftop Solar Programme.
  • The new scheme signals renewed impetus to achieve the target of 40GW capacity by the extended deadline of 2026.
  • With only around 11GW currently installed, the Pradhan Mantri Suryodaya Yojana intends to accelerate rooftop solar adoption.
  • The scheme aimed to expand India’s rooftop solar installed capacity in the residential sector by providing Central Financial Assistance and incentives to DISCOMs
  • A consumer can avail of the benefits of the scheme through DISCOM tendered projects or through the National Portal
  • The DISCOM’s role is limited to issuing of technical feasibility approval, installation of the net meter and inspect the system.
  • Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid.
  • Surplus solar power units generated from the rooftop solar plant can be exported to the grid.