Focus: GS III- Indian Economy (Energy)
Why in News?
The Prime Minister of India recently chaired a meeting to launch “Pradhanmantri Suryodaya Yojana” with the target of installing rooftop solar on 1 crore houses.
- The mission aims to harness solar energy by every household with a roof to reduce their electricity bills.
About Pradhan Mantri Suryodaya Yojana:
- Aim:
- To provide electricity to low and middle-income individuals through solar rooftop installations, along with offering additional income for surplus electricity generation.
- Target:
- Under the scheme, around 1 crore households will get rooftop solar.
- Energy Self-reliance:
- By installing rooftop solar systems, the scheme aims to decrease India’s dependency on traditional energy sources and move towards sustainable energy practices.
- The scheme is in line with Atmanirbhar Bharat.
- Market Implications:
- The initiative is expected to benefit companies involved in solar panel installation and related infrastructure, potentially leading to long-term investment opportunities.
- Implementation of the scheme:
- Awareness Campaigns: To educate potential beneficiaries about the scheme and its benefits.
- Collaboration with Local Bodies: Involving panchayats, municipalities, or local NGOs for effective reach.
- Monitoring and Feedback: Ensuring the scheme’s effectiveness and making necessary adjustments.
