January 16, 2025 4:35 PM

PM Surya Ghar Muft Bijli Yojana to drive Rs 1.2 trillion solar power boom

The PM Surya Ghar Muft Bijli Yojana (PM-SGMBY) is set to unlock a massive Rs 1.2 trillion opportunity in India's solar power sector, according to a report by SBI Capital Markets. The scheme aims to promote residential rooftop solar installations with an ambitious target of achieving 30 GW capacity. Offering substantial capital cost subsidies, the scheme significantly reduces payback periods by 4-5 years, encouraging widespread adoption of solar energy. According to the report, "The scheme posse...