India has actively promoted solar energy as part of its broader renewable energy initiatives. Here are some key aspects of solar schemes in India:
Jawaharlal Nehru National Solar Mission (JNNSM)
Launched in 2010, the Jawaharlal Nehru National Solar Mission (JNNSM) has been a resounding success, aiming to establish India as a global leader in solar energy by creating favourable conditions for solar technology penetration and cost reduction. The target is to achieve 100 GW of solar power by 2022, a goal that we are well on our way to achieving.
Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM):
- These comprehensive schemes cover a wide range of objectives and components to ensure a holistic approach to solar energy adoption. Components:
- Installation of standalone solar pumps.
- Solarization of existing grid-connected pumps.
- We are setting up decentralized solar power plants.
Pradhan Mantri Surya Ghar Muft Bijli Yojana
Launched in February 2024, the Pradhan Mantri Surya Ghar Muft Bijli Yojana aims to accelerate the adoption of rooftop solar energy in both rural and urban areas. This initiative is a major step towards sustainable energy and reducing electricity costs for households.
Subsidies and Financial Support:
The scheme offers significant subsidies directly to individuals’ bank accounts and concessional bank loans, covering up to 40% of the installation cost of solar panels.
Economic Benefits:
Households can save between Rs. 15,000 to Rs. 18,000 crores annually by generating free solar electricity and selling excess power back to the grid. The government plans to install solar panels in one crore homes, potentially saving around Rs. 75,000 crore annually in electricity expenses.
Objectives:
Provide up to 300 units of free electricity per month for one crore households by harnessing solar energy, reducing reliance on conventional power sources, and promoting sustainable living practices.
State-Level Solar Initiatives
Various Indian states have tailored their solar policies to complement national schemes:
Gujarat:
Pioneering solar initiatives with additional subsidies for residential installations and the establishment of the Gujarat Solar Park.
Rajasthan:
Providing land and financial incentives to attract large-scale solar projects.
Tamil Nadu:
Supporting rooftop solar installations and solar water pumps through state-specific incentives.
Incentives and Support for Solar Adoption:
Financial Assistance:
Significant subsidies and tax benefits such as accelerated depreciation and tax holidays are provided to encourage solar power adoption.
Net Metering Policies:
These policies enable consumers to sell surplus solar power back to the grid, reducing electricity bills and offering financial returns on solar investments.
Financing Options:
Various low-interest loans and financial schemes from public and private banks support solar installations.
Conclusion:
India’s solar energy sector is poised for continued expansion, driven by governmental support, private sector participation, and international collaborations. With a focus on overcoming infrastructural and financial barriers, India aims to lead the global renewable energy movement, contributing significantly to climate change mitigation and sustainable development.
