In a move aimed at revolutionising India's energy landscape and propelling the nation to global economic supremacy,
Prime Minister Narendra Modi unveiled ambitious plans to reduce electricity and transport costs for the public to zero while steering the country towards becoming the world's third-largest economy.
In an interview with News18, PM Modi outlined his multifaceted strategy, which includes slashing electricity bills to zero by facilitating the adoption of rooftop solar panels in every household. "I want three things. Every household's power bill should be zero; we should sell surplus electricity and earn money; and I want to make India self-reliant in the energy sector as we transition to the era of electric vehicles," PM Modi said.
By accessing renewable energy sources at home, citizens could charge their electric vehicles, transforming the monthly burden of transportation costs into a thing of the past. "This means the transportation cost of Rs 1,000-Rs 2,000 per month for individuals should also become zero," PM Modi asserted, highlighting the transformative potential of renewable energy and electric mobility.
He further stressed that this transition not only promises significant cost savings for the public but also leads to a greener, more sustainable future.
In addition, the Prime Minister reiterated his goal of elevating India to the coveted position of the world's third-largest economy, and emphasised that there will be continuity of policies in every sector.
During
Manmohan Singh's tenure, we were at 11; we brought it to five after a lot of effort. And now we will put in some more effort and take the country to the third spot. So, we want to maintain continuity in every sector," PM Modi said.
Looking ahead, Modi outlined his vision for India as a beacon of innovation and entrepreneurship, with plans to foster a thriving startup ecosystem and establish the nation as a global hub for manufacturing and innovation over the next five years.
"After June 4, I am clear what I have to do in the next 100 days as well as by 2047. I am clear of a Viksit Bharat by 2047. That is why I say '24×7 for 2047'," PM Modi said.
The recent approval of the PM-Surya Ghar: Muft Bijli Yojana by the Union Cabinet marks a pivotal step towards realising PM Modi's vision. With an allocation of Rs 75,021 crore, the scheme aims to install rooftop solar panels and provide free electricity to 10 million households.
The scheme offers central financial assistance amounting to 60 per cent of the system cost for 2 kW systems, along with 40 per cent of the additional system cost for systems ranging from 2 kW to 3 kW in capacity. This assistance from the central government is capped at 3 kW. Based on current benchmark prices, this translates to a subsidy of Rs 30,000 for a 1 kW system, Rs 60,000 for 2 kW systems, and Rs 78,000 for 3 kW systems or higher.
Households are eligible to apply for the subsidy through the National Portal and have the flexibility to choose a suitable vendor for the installation of rooftop solar panels.
The website also provides assistance to households in their decision-making process by offering relevant information such as recommended system sizes, a benefits calculator, and vendor ratings.
Furthermore, households can access collateral-free, low-interest loan products, typically around 7 per cent, to fund the installation of residential rooftop solar systems of up to 3 kW.
Additional features of the scheme include the establishment of a Model Solar Village in each district, serving as a blueprint for the adoption of rooftop solar in rural areas. Besides, urban local bodies and Panchayati Raj institutions will also benefit from incentives aimed at promoting rooftop solar installations within their jurisdictions.
Through this initiative, households can reduce their electricity bills and even generate additional income by selling surplus power back to distributors. On average, a 3 kW system is capable of producing over 300 units of electricity per month for a household.
The scheme's objective is to add 30 GW of solar capacity through rooftop installations in the residential sector, thereby generating 1,000 billion units of electricity and leading to a reduction of 720 million tonnes of CO2 equivalent emissions over the 25-year lifespan of rooftop systems.
It is projected that the scheme will create approximately 1.7 million direct jobs across various sectors, including manufacturing, logistics, supply chain, sales, installation, operation, maintenance, and other services.