Since the introduction of PM Surya Ghar Muft Bijli Yojana in February 2024, the government announced an addition of 9,566.89 megawatts (MW) of rooftop solar capacity nationwide. This initiative, expected to equip one crore households with rooftop solar installations, could generate around 1,000 billion units of renewable electricity and reduce 720 million tonnes of CO2 emissions over 25 years.
The Ministry of New and Renewable Energy disclosed that the PM Surya Ghar Muft Bijli Yojana is anticipated to create approximately 17 lakh jobs in various sectors such as manufacturing, logistics, supply chain, sales, installations, O&M services, and financial services. Additionally, India aims to boost its Green Hydrogen production capacity to 5 million metric tonnes annually by 2030.
According to MoS, Ministry of New and Renewable Energy, Shripad Yesso Naik, India has already commissioned around 8000 tonnes per annum of green hydrogen production capacity by February 2026. The National Green Hydrogen Mission (NGHM) strives to position India as a global center for the production, utilization, and export of green hydrogen and its by-products.
To support the transition towards rooftop solar energy and achieve the target of installing rooftop solar systems in one crore households, the government has streamlined an online application process for subsidy disbursement directly into the bank accounts of residential consumers through the National Portal. Moreover, applicants can access collateral-free loans from nationalized banks at a concessional interest rate of repo-rate plus 50 bps, currently set at 5.75% per annum for a tenure of 10 years.
