India is to invest over Rs 75,000 crore ($9 billion) to install rooftop solar panels in 10 million houses, thereby strengthening the weakest area of the rapidly expanding renewable industry in the nation.
The slow pace of rooftop system deployment has raised questions about India’s goal of nearly quadrupling its current 73-gigawatt solar power output capacity by the end of the decade. Additionally, the installations will enable customers to sell excess electricity back to the grid, providing 300-kilowatt hours of free power each month to every residence. The plan will result in increased revenue, lower electricity costs, and the creation of jobs for people.
India’s goal to deploy 40 gigawatts of rooftop solar capacity by 2026 is similar to China’s aim of lowering energy prices through the development of solar economies of scale.
The PM Surya Ghar: Muft Bijli Yojana is being introduced by the government to promote sustainable development and the welfare of the populace. This project, which will cost more than Rs. 75,000 crores, would provide up to 300 units of free power every month, to light up 1 crore households.