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Pradhan Mantri Suryodaya Yojana

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.

March 2024