PM Surya Ghar Reaches 8.5 Lakh Installations, 10 Million Solar-Powered Homes by 2047 Target in Sight?

India's solar rooftop initiative, PM Surya Ghar, has crossed a major milestone with over 8.5 lakh rooftop installations. This achievement brings the country closer to its goal of powering 10 million households with solar energy. As part of the broader push towards green energy, India aims to achieve 500 GW of renewable energy capacity by 2030, with a long-term vision of 1,800 GW by 2047.

Achieving Solar Power Milestones

The PM Surya Ghar initiative is a critical component of India’s solar energy journey, with its success reflecting the country’s strong commitment to clean and renewable energy. In a recent address, Minister of New and Renewable Energy, Pralhad Joshi, highlighted that India’s renewable energy capacity has grown significantly, from 75 GW in 2014 to over 220 GW today. This growth is not just a testament to India’s efforts in expanding solar power but also a clear indication that the country is well on its way to meeting its ambitious energy goals.

India’s Vision for 2047

India's long-term goal is to become a global leader in renewable energy by 2047, powering millions of homes with clean, sustainable energy. The government’s vision includes a target of 1,800 GW of renewable energy capacity, positioning India as a major player in the global effort to combat climate change. The minister emphasized the importance of energy security, stable financing, and effective policies to ensure that India continues its transition to green energy.

Financial Support and Policy Initiatives

The transition to a renewable energy future also requires significant financial support and policy stability. M. Nagaraju, Secretary, Department of Financial Services, highlighted that mobilising ₹33 lakh crore is essential to fund India’s energy transition. With ₹10 lakh crore expected from public sector banks, the rest will need to come from innovative financing solutions, including green bonds and structured debt.

With continued government support, financial backing, and stakeholder collaboration, India is on track to meet its renewable energy targets and become a global leader in green energy by 2047.