"Prime Minister's Rooftop Scheme Set to Unlock 30-40 GW Installation Opportunity for 1 Crore Homes"

The Center's ambitious plan to provide rooftop solar power solutions to one crore homes nationwide is poised to unlock a substantial 30-40 GW of rooftop solar installation opportunities within the next 2-3 years, as projected by industry experts.
Under the "PM Surya Ghar: Muft Bijli Yojana" initiative, the government aims to illuminate 10 million households across India with clean energy. Last week, Prime Minister Modi officially launched the rooftop solar scheme, announcing via Twitter its objective of facilitating sustainable development and enhancing people's well-being. With an investment exceeding Rs 75,000 crore, the project intends to furnish up to 300 units of free electricity monthly to one crore households. Additionally, the scheme will provide significant subsidies and concessional bank loans to alleviate any financial burden on beneficiaries. Integration of all stakeholders into a National Online Portal is envisioned to streamline the process, ensuring convenience for participants. Prime Minister Modi emphasized that the initiative would lead to increased income, reduced power bills, and job creation opportunities.
Praveen Sinha, Managing Director & CEO of Tata Power, anticipates a substantial capacity addition of 30 to 40 GW through the proposed rooftop program over the next two to three years. Tata Power, equipped with 4.9 GW of in-house solar module and cell manufacturing capacities in Tamil Nadu and Karnataka, is poised to emerge as a key supplier for the scheme, boasting an 18% market share in the rooftop sector.
While India has achieved self-sufficiency in solar module production, solar cell manufacturing capacity remains comparatively lower, according to R K Singh, Secretary of the Union Minister for New & Renewable Energy. Nevertheless, industry analysts anticipate that the PM's initiative will not only promote sustainable energy practices but also provide financial relief to households.
Crisil, a leading rating agency, estimates that the "Suryoday Yojana" could result in a capacity addition of 20-22 GW. Miren Lodha, Director-Research at CRISIL Market Intelligence & Analytics, believes that if fully implemented, the initiative could achieve 80-85% of the government's overall target of 40 GW in rooftop solar installations.
HBL