Indian Economy News

PM Surya Ghar Yojana Delivers Scale with 26 Lakh Installations and US$ 1.94 billion Support

Significant growth has been achieved by the Government of India’s PM Surya Ghar, Muft Bijli Yojana initiative, which has seen over 26.19 lakh rooftop solar installations take place across the nation since the launch of the initiative in February 2024. The initiative targets the provision of rooftop solar systems to one crore households by FY26-27, supporting clean energy adoption and reducing household electricity costs. This initiative is demand-driven and targets residential consumers who already have access to grid-connected electric services. Residential consumers with grid-connected electricity can apply through the national portal for the installation of rooftop solar systems. This growth can be attributed to the high response from residential consumers and the increasing use of renewable energy sources for residential purposes.

Further, the government has already allocated Rs. 17,967 crore (US$ 1.94 billion) under the scheme as Central Financial Assistance under the scheme to support installations and improve affordability for the installations. The initiative is aimed at promoting energy self-reliance by reducing the need for conventional energy sources and supporting the renewable energy plans for the nation. At the same time, the initiative will also support long-term cost savings and environmental sustainability. The continued expansion of rooftop solar infrastructure is expected to strengthen distributed energy systems, create employment opportunities, and accelerate India’s transition towards a cleaner and more resilient energy ecosystem. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.