PM Kusum Yojana: This presents a great chance to make significant earnings by setting up a solar facility. The government of Madhya Pradesh, led by Mohan Yadav, has initiated the Kusum C scheme for this purpose. Under this plan, power generated by solar facilities will be bought from the public. A subsidy of up to 30 percent is provided for setting up the plant.
Currently, Madhya Pradesh is generating 7 thousand megawatts of electricity from renewable sources. This represents 21 percent of the state’s overall energy capacity. The aim is to raise it to 50 percent by the year 2030. To achieve this, ordinary citizens as well as private enterprises are being motivated.
Any individual (regardless of gender) may apply for the PM Kusum Yojana, as long as they are at least 18 years old. Solar facilities with capacities ranging from 0.5 MW to 2 MW are intended for irrigation in agriculture. Capacity can be adjusted up or down in relation to the land. If an organization establishes a plant, its net worth must be Rs 1 crore per MW, although private investment does not require net worth.
Three parts of PM Kusum Yojana
The PM Kusum Yojana consists of three components. In Part A, 10,000 MW of decentralized renewable energy facilities will be set up. These will be situated on undeveloped land and will link to the grid. Farmers, cooperatives, gram panchayats, water user associations (WUA), and farmer producer organizations (FPO) will also receive subsidies for the grid.
In part B, farmers will receive a financial support of Rs 17.50 lakh to set up solar-powered agricultural pumps. They can additionally transform diesel agricultural pumps with a capacity of up to 7.5 HP into solar-powered pumps. No subsidy will be provided for capacity exceeding this amount.
In section C, a subsidy will be provided for the establishment of 10 lakh solar installations. Electricity distribution companies will purchase power generated by solar facilities at a predetermined rate.