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Business News/ News / India/  Cabinet approves PM Surya Ghar Muft Bijli Yojana; to provide 300 units of free electricity to 1 crore families
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Cabinet approves PM Surya Ghar Muft Bijli Yojana; to provide 300 units of free electricity to 1 crore families

While announcing the 'PM Surya Ghar Muft Bijli Yojana', Union Minister Anurag Thakur said the beneficiaries will get 300 units of free electricity under this scheme

Union Minister for I&B Anurag Thakur speaks during the launch of online portals of the Central Bureau of Communication (Hindustan Times)Premium
Union Minister for I&B Anurag Thakur speaks during the launch of online portals of the Central Bureau of Communication (Hindustan Times)

Prime Minister Narendra Modi-led Union Cabinet on Thursday approved the 75,000 crore rooftop solar scheme to benefit 1 crore families. While announcing the 'PM Surya Ghar Muft Bijli Yojana', Union Minister Anurag Thakur said the beneficiaries will get 300 units of free electricity under this scheme.

“Today's cabinet meeting was held under the leadership of PM Modi. 'PM Surya Ghar Muft Bijli Yojana' has been approved today, one crore families will get 300 units of free electricity under this scheme," Union minister Anurag Thakur said.

"It will strengthen the solar energy ecosystem. It is estimated that the scheme will create around 17 lakh direct jobs in manufacturing, logistics, supply chain, sales, installation and other services," he added.

Central Financial Assistance for solar rooftops

The key elements of the program encompass financial support provided by the central government in the form of Central Financial Assistance (CFA) specifically designated for the implementation of Residential Rooftop Solar projects. "The CFA will be capped at 3 kW. At current benchmark prices, this will mean 30,000 subsidy for 1 kW system, 60,000 for 2 kW systems and 78,000 for 3 kW systems or higher," a release from the government said.

The households will apply for subsidy through the National Portal and will be able to select a suitable vendor for installing rooftop solar. The National Portal will assist the households in their decision-making process by providing relevant information such as appropriate system sizes, benefits calculators, vendor ratings, etc.

The government said that households will be able to access collateral-free low-interest loan products of around 7% at present for installation of residential RTS systems up to 3 kW.

Model Solar Village

The government release said that a Model Solar Village will be developed in each district of the country to act as a role model for the adoption of rooftop solar in rural areas. The scheme provides a component for payment security for renewable energy service company (RESCO) based models as well as a fund for innovative projects in RTS.

 

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Published: 29 Feb 2024, 04:34 PM IST
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