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🔆🏠 India's Solar Home Dream 🔆🏠 Prime Minister Narendra Modi recently announced a new scheme called the Pradhan Mantri Suryodaya Yojana, aiming to install solar panels on 1 crore (10 million) Indian homes. As a reader, let's delve into India's rooftop solar ambitions and the obstacles hindering their realization. 🔸 India heavily relies on coal for 70% of its electricity generation, leading to harmful emissions and massive coal imports worth nearly ₹4 lakh crores last year. 🔸 Shifting to solar energy not only helps the environment but also reduces reliance on costly imported coal, benefiting India's foreign exchange reserves. 🔸 Despite enthusiasm for solar power, India has fallen behind its 2014 solar mission target of 100 GW with only 11 GW of rooftop solar installations, including a mere 2.7 GW in residential spaces. So, why have households been slow to adopt solar power? 🔸 Lack of awareness: Less than 60% of people understand how solar systems work, indicating a need for education on the long-term benefits. 🔸 Cost: Installing solar panels can range from ₹1.5–2.5 lakhs, discouraging many existing homeowners who hesitate to bear the financial burden. 🔸 Delayed subsidies and loan availability: The government's efforts to make solar installations more affordable have suffered from delays, creating a trust deficit. Limited availability of specialized "solar" loans has also posed challenges. Another obstacle resides with power distribution companies (Discoms), as they are reluctant to embrace solar power due to existing long-term agreements with electricity generators. Discoms fear revenue loss if consumers widely adopt solar power, causing delays and hurdles in gaining approval for rooftop solar systems. Despite these challenges, our path to achieving 1 crore solar-powered households isn't impossible. To make it a reality, additional subsidies and incentives may be required, especially in light of some state governments providing free electricity. However, reaching this ambitious milestone won't be an easy feat. Let's be hopeful and support India's renewable energy goals! Read more about India's solar home dream here: [URL] #SolarEnergy #RenewableEnergy #India #Sustainability #CleanEnergy [URL]

All about 1 crore solar Homes ! Unfortunately, 70% of India's electricity comes from coal, which is not environmentally friendly due to harmful emissions. Additionally, we spend a huge sum, nearly ₹4 lakh crores, on importing coal to meet our energy needs. We have plenty of sunlight, a free natural resource. Reports suggest India receives more sunlight than any other country in the G20, the top 20 economies globally. By harnessing this sunlight, we can fulfill our promises of renewable energy, all while saving valuable foreign exchange reserves. In 2014, the government aimed for 100 gigawatts of solar power, with 40 gigawatts from rooftops as part of a strong solar mission. But households were slow to adopt solar power due to a lack awareness. A study found that less than 60% of people know how solar systems work, highlighting the need for better education on their long-term benefits. Solar panels are expensive, and for a typical Indian home needing 3–5 kilowatts, setting up just 1 kilowatt costs ₹51,000. This results in households having to spend between ₹1.5–2.5 lakhs to install these panels on their rooftops. New homes might easily incorporate the costs of solar panel installation. However,existing homes would hesitate due to the financial burden involved in setting up solar panels. The government tried to make solar installations cheaper with subsidies, but delays made people doubt it. Getting loans for solar projects was hard because banks didn't have specific "solar" loans, so people had to take expensive personal loans. Another issue was setting up 'on-grid' solar, connecting rooftop solar to the national electricity grid. Excess electricity generated during sunny periods could be shared with the grid, potentially earning the individual money through deductions on their electricity bill. The technical potential of covering all suitable rooftops with solar panels could be 637 gigawatts (GW), but economically viable potential narrows to 102 GW. Achieving this, households need to weigh upfront costs against future electricity savings. Without subsidies, the feasible market potential is around 11 GW, encompassing approximately 55 lakh households. Subsidies seem crucial, especially considering that some state governments provide free electricity, making it challenging to motivate households to install solar panels. Hitting the 1 crore goal may not be easy, but hopes are high. #solarpanels #makeinindia

Government of India is going to launch its biggest scheme of recent times from April 2024, and we did some math✍🏻 to share: The scheme I am referring to is the 1 Crore+ Rooftop dream of PM Modi. Under the present scenario, the central government subsidizes 40% of the installation cost of rooftop solar systems, and the remaining 60% covered by the consumer. However, with the newly launched Rooftop PSY scheme, the government is stepping up its support by offering a subsidy to cover 60% of the installation cost, while the remaining 40% is financed through loans taken by government-owned companies. This means that households selected under the scheme will now have to pay nothing for installation of rooftops, as against 60% today. As per the estimates made in the latest budget announcements, we calculated two possible scenarios to quantify the amount of spending that is coming to the ecosystem in the next 3-4 years specifically targeting the solar rooftop installations. Interestingly, the amount of possible spending is even higher than India's current annual education budget allocation!🤯 Read our analysis here: https://lnkd.in/gfs_uEdd (Subscribe today for free to receive all future research directly in your inbox. Not any stock recommendation) #solar #india #scheme #rooftop

#PradhanmantriSuryodayaYojana 📙 Pradhanmantri Suryodaya Yojana is a central government scheme which aims to provide electricity to low and middle-income individuals through solar rooftop installations, along with offering additional income for surplus electricity generation. The Prime Minister said that the power of the sun 🌤 can be harnessed by every household with a roof to reduce their electricity bills and to make them truly Aatmanirbhar for their electricity needs. Also, he directed that a massive national campaign should be started to mobilize residential segment consumers to adopt rooftop solar in large numbers. 🏠 These rooftop solar panels are photovoltaic panels connected to the main power supply unit. 🌳Thus, it reduces the consumption of grid-connected electricity and saves electricity costs for the consumer. This scheme to make India self-reliant in the energy sector will include citizens who belong to the BPL or poor people with very minimal investment. #SolarPanel #RenewableEnergy #MNRE #SaveEnvironment #Corpbiz

Low Response to Pradhan Mantri Surya Ghar Yojana in Telangana and Andhra Pradesh Telangana and Andhra Pradesh have shown reluctance towards the Pradhan Mantri Surya Ghar Yojana, a scheme aimed at providing rooftop solar power subsidies to one crore households nationwide. In these states, only 17,152 applications from Telangana and 29,740 from Andhra Pradesh have been received so far, reflecting a poor response compared to other regions like […] https://lnkd.in/gR-hDQnr Telangana and Andhra Pradesh have shown reluctance towards the Pradhan Mantri Surya Ghar Yojana, a scheme aimed at providing rooftop solar power subsidies to one crore households nationwide. In these states, only 17,152 applications from Telangana and 29,740 from Andhra Pradesh have been received so far, reflecting a poor response compared to other regions like Assam, Gujarat, Maharashtra, and Uttar Pradesh where applications are more numerous. The disparity is attributed to the lack of additional subsidies from the state governments of Telangana and Andhra Pradesh, unlike in other states where supplementary incentives are provided alongside the central scheme. For instance, Telangana's provision of free electricity up to 200 units per m...

India's leaping into a brighter and greener tomorrow by riding the solar wave. Last week, PM Narendra Modi announced the Pradhan Mantri Suryodaya Yojana, aiming to install rooftop solar systems in 1 crore (10 million) households, focusing on aiding the poor and middle class. This initiative would help bring about a reduction in electricity bills while helping India take another step towards energy self-reliance. Here are some key highlights on what could follow: - Bright Future for solar manufacturing: Companies like Borosil Renewables and Waaree Renewables Technologies are at the forefront, as India's solar module manufacturing capacity is expected to reach 100 GW in 2-3 years, a substantial increase from the current 38 GW. These companies, along with others in the solar PV sector, are set to witness a surge in demand. - Financial and Ancillary Sector Growth: Financial institutions are gearing up to support this boom with specialized solar loans. In addition, battery companies like Exide and cable manufacturers are preparing for an uptick in demand, demonstrating the scheme's wide economic impact across various industries. - Smart Metering Advancement: With the shift towards solar energy, companies specializing in smart metering like HPL Electric and Genus Power (holding a 70% market share in smart meters), are expected to benefit significantly. This aligns with efficient energy management and distribution needs in the solar era. What do you think of the new rooftop scheme? #rooftopsolar #solar #renewables #cleanenergy #india

India is a solar powerhouse in the making but we have some big challenges to face.. Having been part of this industry over the past 7 years, we have come across these challenges as well And the only way to grow our solar power would be overcoming them- Land Acquisition- Finding suitable space for large-scale solar plants can be tricky, especially balancing it with agricultural needs. Innovative solutions like solar rooftops and vertical solar farms are helping, but we need more! Grid Integration- Imagine having a rooftop solar system generating tons of clean energy, but nowhere for it to go! Upgrading the power grid infrastructure is crucial to fully harness this potential. Affordability- While costs are coming down, upfront investment can still be a barrier for some. Creative financing options and government incentives are key to making solar accessible to everyone. Storage- The sun doesn't always shine, and storing solar energy for nighttime use is still a developing technology. Finding cost-effective storage solutions is key to a 24/7 solar dream. Despite these challenges, I'm optimistic! India's solar potential is undeniable, and the solutions are within reach. Collaboration between government, businesses, and innovators is key. So, let's keep the conversation going! What are your thoughts on the biggest challenges facing solar power in India? #solarenergy #india #renewableenergy #sustainability #challenges

🌞 Pradhan Mantri Suryodaya Yojana: Powering India’s Future with Solar Energy . Exciting news from the Indian Government! The Pradhan Mantri Suryodaya Yojana, announced on February 1, 2024, aims to equip one crore households with rooftop solar panels. This initiative significantly reduces our dependence on traditional power grids and makes us more self-reliant. . Here’s what you need to know: 1️⃣ Objective: The scheme aims to reduce electricity bills for poor to middle-class households, making them more self-reliant and reducing India’s reliance on fossil fuels. . 2️⃣ Implementation: The scheme aims to install rooftop solar panels in 1 crore households across India. . 3️⃣ Benefits: Households benefit from savings ranging from Rs 15,000 to Rs 18,000 annually through free solar electricity and the ability to sell surplus power to distribution companies. . 4️⃣ Impact on Employment: The use of solar energy will not only create new job opportunities but contribute to a cleaner and greener environment. . 5️⃣ Comparison with Previous Schemes: The Pradhan Mantri Suryodaya Yojana is seen as a renewed effort by the government to achieve the target set by the National Rooftop Scheme, launched in 2014, which aimed at achieving a cumulative installed capacity of 40 gigawatts (GW) by 2022. . This is a significant step towards a sustainable, clean-energy future for India. Let’s embrace the power of the sun! ☀️🌍 . #SolarEnergy #Sustainability #CleanEnergy #India #Cleanplanet #Savetheplanet #Sustainableliving

Is India's Rooftop Solar Revolution the Key to a Greener Future? India is witnessing an unprecedented surge in demand for rooftop solar systems, both from residential and industrial consumers. With initiatives like the Pradhan Mantri Suryodaya Yojana (PMSY) Scheme and the recently launched fourth solar scheme aimed at low- and middle-income households, the country is poised to add significant solar power capacity. Despite challenges such as legacy issues in the energy sector and reluctance from power distribution companies, rooftop solar holds immense potential. It not only provides affordable and reliable power but also reduces dependency on traditional energy sources and contributes to a cleaner environment. The commercial and industrial (C&I) segment, which accounts for a significant portion of India's power consumption, is increasingly turning to renewable energy sources to combat rising power tariffs and meet sustainability goals. This shift not only benefits businesses but also has far-reaching implications for the economy and the energy landscape. As India accelerates its renewable energy transition, the rooftop solar revolution presents an opportunity for sustainable growth and environmental stewardship. With supportive policies, streamlined regulations, and growing demand, the future of solar energy in India looks promising. Are you ready to be part of India's journey towards a greener future? #RooftopSolar #CleanEnergy #Sustainability #IndiaSolarRevolution #solar

India's recent push for self-reliance in energy generation is nothing short of a moonshot. With the launch of the Pradhanmantri Suryoday Yojana, the country aims to power 1 crore homes with solar energy, providing energy independence to the most vulnerable amongst us. This effort will not only benefit those who need it the most, but also provide a consistent demand for companies and stakeholders involved in the solar power industry. It will also spur the development of critical technologies within India, rather than relying on imports. Additionally, this move signals to the global market that India has a strong line of companies conforming to #esg rules, which could attract more investment. An exciting time for the renewables market in India. We're optimistic that the implementation of this policy will be successful and the benefits it is capable of bringing will reach those it is intended to reach . #solarpower #renewableenergy #energyindependence #ESG #India #esginvesting Source: LiveMint