Indian Government’s Rooftop Solar Scheme Records Remarkable Growth, Adding 1.8 GW Within Six Months
India’s pilot scheme for rooftop solar power generation, Muft Bijli Yojana, has achieved significant success since its launch. According to a recent report, the scheme has recorded a remarkable increase of over 50% in rooftop solar capacity within just six months of its inception. The ambitious program, approved by the Union government with a budget of Rs 750.21 billion, aimed to expand solar rooftop capacity and enable residential households to generate their own electricity.
Massive Impact: 400,000 Rooftop Solar Connections Installed, Adding 1.8 GW of New Capacity
Minister of New and Renewable Energy, Pralhad Joshi, recently made an announcement stating that a whopping 400,000 rooftop solar connections have been installed under the Muft Bijli Yojana scheme across the country. These installations have contributed to an impressive addition of 1.8 gigawatts (GW) of new capacity. The surge in such installations signifies a growing interest among residential households in harnessing clean and sustainable energy for their own consumption.
Steady Growth: India’s Total Residential Solar Rooftop Capacity Reaches 3.2 GW
With the addition of the new rooftop solar connections, India’s total residential solar rooftop capacity has reached a noteworthy 3.2 GW as of March. This reflects the increasing realization among homeowners of the economic and environmental benefits of utilizing solar power. Furthermore, the total installed capacity of solar energy in India currently stands at 11.9 GW, with commercial and industrial users comprising 60% of the overall capacity.
Government Incentivizes Adoption: Subsidy Increased to 60% and Loans Offered at 7% Interest Rate
In order to encourage more households to adopt rooftop solar systems, the Indian government has implemented measures to make the transition financially viable. The subsidy on rooftop solar modules has been increased to an attractive 60%, significantly reducing the associated costs for homeowners. Additionally, loans for rooftop solar installations are being offered at a modest 7% interest rate, making financing options more accessible and affordable for interested individuals.
Fulfilling Renewable Energy Goals: Projected Residential Solar Capacity Increase to 30 GW by 2027
The Muft Bijli Yojana scheme is designed to not only promote clean and sustainable energy but to also closely align with India’s renewable energy goals. By 2027, the government envisions that the residential solar capacity will escalate to an impressive 30 GW. Such exponential growth in the household adoption of solar power will contribute significantly towards India’s objectives of expanding its renewable energy capacity and working towards net-zero targets.
In achieving these milestones, the government aims to not only reduce the country’s carbon footprint but also create additional self-sufficiency in electricity generation. The successful implementation and growth of the Muft Bijli Yojana scheme further reinforce India’s commitment to renewable energy and highlights the potential impact of such initiatives in driving sustainable development.
