Budget 2024: Rooftop Solar Scheme

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Budget 2024: Rooftop Solar Scheme

| Updated: February 1, 2024 20:00

Union finance minister Nirmala Sitharaman, in her budget speech on Thursday, said that the Centre’s proposed scheme of rooftop solarisation will provide free electricity of up to 300 units per month to households. The Rooftop Solarisation and Free Electricity scheme was the first decision of PM Modi following the Ram Temple ceremony. He launched the scheme on January 22, the next day of the ceremony.

For more updates on Budget 2024, visit HT. Explore now! Here are the key features of the scheme: (1.) The scheme is part of the Pradhan Mantri Suryodaya Yojana, and will enable around 10 million (one crore) households to sell their excess power (to DISCOMS).

(2.) The scheme is expected to help these households save between ₹15,000 and ₹18,000 every year, as per Sitharaman’s speech.

(3.) The Rural Electrification Corporation (REC) Limited, a state-owned entity, is the nodal agency for the scheme.

(4.) Pradhan Mantri Suryodaya Yojana aims to provide power to low and middle-income families through rooftop solar systems.

(5.) Rooftop solar systems involve installing solar photovoltaic (PV) panels on the roof of a building, home, or a residential property. Budget 2024 This was an interim budget, making Sitharaman only the second finance minister to present six budgets in a row. Budget 2024 was ‘interim’ as the country will go to polls this year, in April-May. A full budget will be delivered in July by the new or re-elected government.

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