THE UNION CABINET on Thursday approved a ₹75,000-crore scheme for rooftop solar installations in 10 million houses by FY26.
Announced by Prime Minister Narendra Modi on February 13, the PM-Surya Ghar: Muft Bijli Yojana promises to deliver up to 300 units of free electricity each month to the beneficiary households.
The scheme is in line with the policy thrust given to renewable energy and India's commitment to achieve net-zero emission by 2070.
Under the scheme, the government will provide central financial assistance of 60% of the cost for 2kW systems. The government will further provide 40% of additional system cost for systems with capacity between 2kW to 3kW.
At current benchmark prices, this will mean ₹30,000 subsidy for 1kW system, ₹60,000 for 2 kW systems and ₹78,000 for 3 kW systems or higher, the government said. The subsidy however will be capped at 3 kW systems.
This story is from the March 01, 2024 edition of Financial Express Mumbai.
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This story is from the March 01, 2024 edition of Financial Express Mumbai.
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