Rooftop solar installation subsidy increased to 60 percent…Union Renewable Energy Minister RK Singh

New Delhi , February 03: The central government has given good news to the people of the country. It has announced that it is ready to increase the subsidy for rooftop solar installation under the Pradhan Mantri Suryoday Yojana scheme. Union Renewable Energy Minister RK Singh has announced that he is ready to increase the subsidy to 60 percent , while the current subsidy is 40 percent. Electricity consumption in the country is increasing day by day. With this, the central government is providing a solar system so that renewable energy can be used in accordance with the increasing electricity consumption. However , if you want to set up a solar system, you have to spend a lot of money. Common people cannot afford to spend that amount. That’s why.. Pradhan Mantri Suryoday Yojana scheme was brought to provide solar system by giving huge subsidy to people without burden of debt. Under this scheme, the central government provides 40 percent subsidy to those who install solar system .Increase in subsidyUnion Minister RK Singh has announced that there is a plan to increase the subsidy from 40 percent to 60 percent. If consumers with electricity consumption less than 300 units apply for solar system.. Center will provide solar system with 60 percent subsidy. The remaining 40 percent of the loan has to be paid by the beneficiaries. However , this scheme is implemented through Special Purpose Vehicles (SPVs) established by the Central Public Sector Enterprises (CPSE) in each state. The Union Minister said that the loan repayment period will be up to 10 years. However , when 40 percent of the money is paid… only then will the rooftop solar infrastructure installation be done. The central government says that if the electricity is produced beyond your requirement, it can be sold to the discoms. Meanwhile , the central government has also disclosed the details of this scheme in the recently presented interim budget. Through this scheme, 10 million beneficiaries will be able to get 300 units of free electricity through rooftop solar system installations. By this Rs. 15,000 to 1,80,000 will be saved. Union Finance Department Secretary TV Somanathan said that for the rooftop solar system, the central government budgeted Rs. He said that 10 thousand crores have been allocated.