Pradhanmantri Suryodaya Yojana (PMSY)

The PMSY is a government scheme aimed at providing solar rooftop panels to 1 crore low and middle-income households in India.

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Key highlights of the PMSY

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The scheme is expected to create a demand for rooftop solar systems worth over ₹1 lakh crore (US$14 billion) by 2024.

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Target: The scheme aims to install rooftop solar systems on 1 crore households in India by 2024.

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Eligibility criteria : – Permanent resident of India – Annual income below Rs. 1 lakh or Rs. 1.5 lakh (depending on the category) – Own a house with a suitable rooftop

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Financing: The scheme provides a subsidy of up to 60% of the cost of the rooftop solar system.

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Benefits: 1. Reduced electricity bill 2. Increased energy independence 3. Potential income generation from surplus electricity generation

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