Pradhan Mantri Suryoday Yojana: It is a process of installing solar panels on the rooftops of households with numbers ranging to a maximum of one crore to balance the electricity bills by the year 2025 as per Modi’s decision in the recent update, the scheme signifying the importance of solar panels and the usage behind to reduce or compensate electricity
Let’s take a dig at what solar panels are and why the decision was made
Pradhan Mantri Suryoday Yojana Scheme
The Ministry of New and Renewable Energy has appointed REC as the overall program implementing agency for the deployment of rooftop solar power in the country, with a target of covering 1 billion households in one year. This is a tedious task as it requires coordination with multiple stakeholders, roof owners, distributors, suppliers, and more financing companies.
Some central public sector projects under the Ministry of Energy are allocated to different states and cities. CMD will be proactive in this rooftop solar installation based on the RESCO which commonly stands for – Renewable Energy Service Company model.
The CMD emphasized that the rooftop solar power system will help expand the company’s renewable energy portfolio, implying that “The Board of Directors meeting today approved the administration of REC, a central public sector undertaking operating as a service provider for renewable energy sources with a credit of approximately ₹15,000 crore. Eight CPSEs are implementing this solar roof is the budget fixed for the project in implementing solar missions
Pradhan Mantri Suryoday Yojana Scheme: Key Points
- PM Modi on Monday announced the launch of a program to provide rooftop solar power to 10 million households in the country as planned
- REC CMD also informed reporters that the company has sanctioned around Rs 1.25 trillion against the renewable energy sector so far this fiscal year.
- For the quarter that ended in December, the company reported a net profit of Rs 3,269.31 crore, which is an increase of 13 percent in total. As per the numbers seen, the quarter of the previous fiscal year goes to 2,878.08 Crore.
- Total operating revenue for the third quarter of the fiscal year reports Rs 11,981.65 crore, which is ultimately an increase of 23 percent over Rs 9,694.89 crore in the December quarter of the previous financial year as per the calculation executed
Pradhan Mantri Suryoday Yojana –Why PM Modi Took This Decision :
During the meeting, the Prime Minister said that harnessing the power of the sun in every home with a roof can reduce electricity bills and truly meet electricity needs with the scheme of Suryodaya Yojana Scheme
Pradhan Mantri Suryoday Yojana- Who is Eligible For This Scheme :
This scheme is applicable as follows- One billion households will have access to rooftop solar energy through Pradhan Mantri Suryodaya Yojana. This program is structured to help poor and middle-income households reduce their electricity bills and amenities.
Pradhan Mantri Suryoday Yojana – Significance / Purposes of Rooftop Solar Panels :
• Consumers save money on electricity bills on implication of Solar Panels
• No additional land is required as free roof space can be utilized.
• Short gestation period.
• There are no additional requirements for power transmission and distribution (T&D) lines.
• Reduce T&D losses by combining electricity consumption and generation.
• Improve tail-end grid voltage and reduce grid congestion.
• Long-term energy.
Pradhan Mantri Suryoday Yojana- Steps to Install Solar Panels :
An interested beneficiary must be within the capacity limits specified in the order of the respective State Electricity Regulatory Commission/National Joint Electricity Regulatory Commission. , rooftop solar PV systems can be installed. through project developer/system integrator/manufacturer, etc. after obtaining necessary approvals from DISCOM/UT
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