Solar Industry Weekly Roundup - Key Highlights & Insights ? Feb 2025

1. PM Surya Ghar: Muft Bijli Yojana Completes One Year

Launched on February 13, 2024, by Prime Minister Narendra Modi, the PM Surya Ghar: Muft Bijli Yojana has successfully completed its first year, aiming to provide free electricity through rooftop solar installations to households across India.

Key Achievements in One Year

• Over 8.46 lakh households benefited as of January 27, 2025.
• Monthly rooftop solar installations increased tenfold, reaching 70,000 per month.
• ?4,308.66 crore disbursed as financial aid, with an average subsidy of ?77,800 per household.
• 45% of beneficiaries receive zero electricity bills due to solar power generation.

Top 5 Beneficiary States

The following states have the highest number of households benefiting from the scheme:

1. Uttar Pradesh
2. Maharashtra
3. Tamil Nadu
4. Gujarat
5. Rajasthan

Scheme Benefits

• Up to 40% subsidy on rooftop solar installations.
• Lower electricity costs for households.
• Encourages clean energy adoption and reduces reliance on conventional power.

Future Goals

• Target to power 1 crore households by March 2027.
• Further increase in solar adoption to promote a sustainable and energy-efficient India.

The PM Surya Ghar scheme has played a crucial role in making solar energy accessible to the masses, resolarducing power costs, and supporting India’s transition to clean energy.

2. Global Utility-Scale Solar Additions Reached 182 GW in 2024

In 2024, utility-scale solar installations hit 182.7 GW (AC), bringing the total capacity of the top 33 countries to 765 GW—93% of the global total, according to Wiki-Solar. Asia led the growth, with China and India as key contributors, while the U.S. nearly doubled its installations. Spain and Italy boosted Europe's recovery, and Brazil overtook Chile in South America. Wiki-Solar founder Philip Wolfe predicts the global utility-scale market will surpass 1 TW by 2025, driven by a strong project pipeline.

3. India Surpasses 100 GW Solar Capacity, Solar Contributes 60.73% of Renewable Energy

As of January 2025, India has achieved over 100 GW of installed solar photovoltaic capacity, with solar energy now comprising 60.73% of the nation's 165.202 GW renewable energy portfolio (excluding large hydro). This milestone signifies that solar power contributes 21.52% to India's total installed power capacity, which has grown by 8.44% year-over-year to 482.995 GW. Despite coal still accounting for 45.87% of the energy mix, the rapid expansion of renewable sources, particularly solar, underscores India's commitment to a sustainable energy transition. read more

4. India can reduce industrial emissions by 65% by 2050 through strategic policy measures.

A recent expert note by WRI India, titled "Pathways to Net Zero: Policies and Measures for Industrial Decarbonization in India," emphasizes the necessity of early action, innovative policies, and targeted investments to align industrial growth with India's net-zero emissions goal. Industries are pivotal to India's economy, contributing 25% to the nation's gross value addition in 2019, but they also account for 30% of the country's total carbon emissions. Without additional decarbonization policies, these emissions could nearly triple by 2050. However, with strategic policy-driven interventions, industrial emissions could be reduced by 65% by 2050 compared to a scenario without such policies. Key interventions include:

• Industrial Electrification and Hydrogen Mandate: Transitioning from fossil fuels to electrification and hydrogen starting in 2025, aiming for 50% substitution by 2050.
• Energy Efficiency Improvements: Enhancing energy efficiency across industries to reduce energy consumption and emissions.
• Material Efficiency: Optimizing the use of raw materials to lower emissions associated with production processes.
• Carbon Capture and Storage (CCS): Implementing CCS technologies to capture and store emissions from industrial activities.

These measures collectively could lead to a cumulative emission reduction of approximately 29,388 million metric tonnes of CO? equivalent between 2020 and 2050. The expert note underscores that immediate and sustained efforts are crucial to achieving these reductions and aligning industrial development with environmental sustainability.

Source : PIB, Solar Quarter, PV Magazine

Stay tuned for the latest updates in the solar industry! Read More