Udaipur, October 16, 2024 - In the past five years, 10 major companies have started manufacturing solar panels in the country. As a result, India has reached the fourth position in the world in terms of solar panel manufacturing because of this continuous progress to promote solar energy in the country. The use of indigenous solar panels will lead to more efficient and cost-effective solar energy production.

Since April 2024, it has been mandated that only domestic solar panels be used under KUSUM Component-C. This is because the capacity for solar panel manufacturing in India has reached 172 GW, compared to 115 GW five years ago.

The increase in domestic solar panel has now, under the KUSUM Component-A scheme, led to the Rajasthan Electricity Regulatory Commission proposing purchase of electricity at a rate of Rs 3.04 per unit whereas last year it had approved power purchases from certain agencies at a rate of Rs 3.56 per unit for 25 years.

What is PM-KUSUM scheme

Ministry of New and Renewable Energy (MNRE) had launched the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) Scheme for farmers. Under this, a subsidy up to 30% or 50% of the total cost is given by the central government subsidy for the installation of standalone solar pumps. Subsidy is also given for the solarisation of existing grid-connected agricultural pumps.

Furthermore, under this scheme farmers can also install grid-connected solar power plants up to 2MW on their barren/fallow land and sell electricity to local DISCOM at a tariff determined by state regulator.

Source: Media Reports