Budget 2024: Good News! One Crore Households to Get Free Electricity, Check Who Will Benefit

Budget 2024: In a significant move towards sustainable energy and financial empowerment, Prime Minister Narendra Modi's pledge to electrify one crore households via rooftop solar installations receives renewed emphasis in the Interim Budget 2024-25, presented by Union Finance Minister Nirmala Sitharaman. The budget allocates substantial resources to facilitate this initiative, aiming to provide up to 300 units of free electricity monthly to eligible households through rooftop solarisation. This commitment holds the potential to deliver significant economic benefits, with households estimated to save ₹15,000-18,000 annually by harnessing solar power and selling surplus electricity to distribution companies.

Rooftop Solarisation: A Path to Free Electricity

The implementation of rooftop solarisation represents a transformative step towards achieving energy self-sufficiency and reducing reliance on traditional power sources. Under the net-metering policy, households equipped with rooftop solar panels can contribute surplus electricity to the grid, thereby offsetting their energy bills and unlocking additional financial benefits.

Government's Investment and Strategy

The government's commitment to rooftop solarisation is underscored by its substantial financial investment, as evidenced by the budget allocation of ₹4,555 crore for the fiscal year 2024-25. This significant increase from previous years reflects a concerted effort to accelerate the adoption of solar energy and expand its reach to a broader segment of the population.

Promoting Residential Solar Adoption

While India boasts an impressive 11 GW of installed rooftop solar capacity, the residential sector remains largely untapped, accounting for only 2.7 GW of this total. To address this disparity, the government aims to incentivise residential solar installations through targeted subsidies and policy initiatives. By making solar power more accessible and financially viable for households, the government seeks to democratise energy access and promote sustainable development.

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