Interim Budget: 300 units free solar electricity for 1 crore households announced

The government on Thursday allocated Rs 10,000 crore for the rooftop solar and free electricity scheme.
Representative Image.
Representative Image. (File Photo | AP)

NEW DELHI: The government on Thursday allocated Rs 10,000 crore for the rooftop solar and free electricity scheme.

Under the scheme, 1 crore households will receive free electricity up to 300 units every month. Finance minister Nirmala Sitharaman, presenting the interim budget 2024, said the move will save households between `15,000 and Rs 18,000 per year, and also will allow them to sell surplus electricity to DISCOMs.

“Through rooftop solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Ram Mandir in Ayodhya,” said the finance minister.

Prime Minister Narendra Modi had announced the scheme to install solar panels on 1 crore houses across the country as part of the government’s Pradhanmantri Suryodaya Yojana. State-run REC has been designated as the nodal agency for the Pradhan Mantri Suryodaya Yojana.

Another major announcement from the energy sector is providing viability gap funding (VGF) for an initial capacity of 1 GW of offshore wind power. Sitharaman said a VGF will be provided for harnessing offshore wind energy potential for an initial capacity of one gigawatt. The government aims to install 500 GW of installed capacity by 2030. As part of this, the government aims to establish 10 GW of offshore wind capacity by 2030. Currently, India’s onshore wind energy capacity stands at 44 GW.

To meet its net zero target, the minister announced phased mandatory blending of compressed biogas (CBG) with compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes will be mandated.

To save households Rs 15,000-Rs 18,000/year

Finance minister Nirmala Sitharaman, while presenting the interim budget 2024, said the move will save households between Rs 15,000 and Rs 18,000 per year, and also will allow them to sell surplus electricity to distribution companies

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