Solar installations have increased by more than 50% in the last 6 months due to the new PM Surya Ghar Yojana, know how much subsidy is available.

Rooftop Solar Installations Surge by 50% Under PM Surya Ghar Scheme

The Government of India launched the PM Surya Ghar Free Electricity Scheme in February, leading to a remarkable 50% increase in rooftop solar capacity within six months. Approximately 400,000 residential rooftop solar systems have been installed, adding 1.8 GW of capacity. This surge now represents over half of the nation’s residential rooftop solar capacity, as reported by JMK Research and Analytics.

Growth in Rooftop Solar Capacity

By March 2024, India’s residential rooftop solar capacity reached about 3.2 GW, accounting for 27% of total installations. The cumulative capacity, including commercial and industrial sectors, has hit 11.9 GW, with the latter contributing around 60%. To promote adoption, the government has raised the subsidy from 40% to 60%, and banks offer loans to households at a low interest rate of 7%.

Future Prospects and Challenges

While the PM Surya Ghar Scheme shows promise, challenges such as the availability of Domestic Content Requirement (DCR) modules and vendor shortages could hinder growth. Affordability remains a concern for smaller consumers, particularly in regions with high transportation costs. The initiative aims to achieve 30 GW of residential rooftop capacity by 2027, paving the way for India’s renewable energy goals and net-zero ambitions.