PM Surya Sarovar Yojana: Big news for everyone. The Prime Minister’s Surya Sarovar Yojana is a new scheme by the central government aimed at providing affordable and eco-friendly electricity through the installation of floating solar panels on ponds, lakes, and large reservoirs nationwide. This initiative is set to significantly increase the production of green energy while lowering electricity expenses. Recently approved by the Union Cabinet, the scheme plans to develop 5,000 MW of floating solar projects across the country.

Key Points of the Pradhan Mantri Surya Sarovar Yojana:

– Installation of large-scale floating solar panels on reservoirs and water bodies to generate electricity connected to the national grid.
– Benefits include increased availability of clean energy, reduced dependence on conventional electricity sources.

PM Surya Ghar Yojana
 

Benefits of Affordable Electricity:

– Domestic consumers are expected to enjoy reduced electricity bills due to the growing use of solar energy.
– Farmers can utilize the electricity generated around water bodies for irrigation and agricultural needs, providing substantial relief.
– Industries and local areas near canals, reservoirs, and industrial zones will have access to cost-effective electricity, supporting economic activities in these regions.

Investment Details:

– Total expenditure for the scheme is approximately Rs 5,070 crore.
– Central assistance of up to Rs 1 crore per megawatt project will be provided.
– The overall investment is projected to amount to Rs 28,500 crore.
– Project approvals are scheduled between 2026-27 and 2030-31.

Significance of the Scheme:

– Addresses land scarcity issues by utilizing water surfaces for solar panel installation.
– Reduces water evaporation from reservoirs.
– Boosts renewable energy production and assists states during peak electricity demand periods.

The projects will also be equipped with energy storage systems of at least two hours, totaling 10,000 megawatt-hours. This government plan will particularly benefit states with substantial water storage reserves. The Ministry of New and Renewable Energy says that currently the installed capacity of floating solar in the country is around 700 MW, while the potential capacity is said to be 102 GW.

17000 employment opportunities will be created

This will enable states to more easily manage their peak demand. Projects will be approved between fiscal years 2026-27 and 2030-31, and assistance will continue until fiscal year 2032-33. This scheme will address land shortages and make better use of reservoirs.