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.

Key highlights of the PMSY

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

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

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

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

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