The Business Bytes
THEBUSINESSBYTES BUREAU
BHUBANESWAR, JANUARY 23, 2025
The PM Surya Ghar Yojana, a landmark initiative by the Government of India, is driving a nationwide shift toward renewable energy by making rooftop solar installations accessible and affordable for millions of households. This transformative scheme is reshaping the energy landscape with its innovative approach, economic incentives, and ambitious goals.
At the heart of this initiative lies a generous subsidy structure that ensures affordability for consumers. Households can benefit from a Central Government subsidy of up to ₹78,000 for solar installations of up to 3 kW. Additionally, the Odisha State Government is providing an extra subsidy of up to ₹60,000, further lowering costs for residents in the region. Public sector banks are also stepping in with affordable loans of up to ₹2 lakh at interest rates as low as 7%, making the transition to solar power financially viable for all.
Early adopters of the scheme have already begun reaping rewards, with significant reductions in their electricity bills, showcasing the scheme’s dual benefits — economic savings and environmental sustainability.
Odisha has set a bold target of installing 3 lakh rooftop solar panels by 2027, a step that aligns seamlessly with India’s national mission to achieve 500 GW of renewable energy capacity by 2030. Beyond clean energy production, the initiative promises to create extensive employment opportunities and significantly reduce India’s global carbon footprint.
On January 22, 2025, a Vendors’ Meet organized by REC Limited in Bhubaneswar marked a key milestone in the scheme’s implementation. The event brought together solar vendors, banking partners, and key stakeholders, including Arvind Singh, CEO of TPCODL, and Saidutta Biplab Keshari Pradhan, CEO of OREDA. The discussions at the meet focused on overcoming challenges, streamlining processes, and accelerating the scheme’s rollout across the state.
With its comprehensive vision and collaborative execution, the PM Surya Ghar Yojana is set to revolutionize India’s energy sector, paving the way for a greener, brighter, and more sustainable future for generations to come.
