PM KUSUM- The Farmers Solarization Yojana Receives INR 340.35 Billion

India is making a concerted effort to promote solar energy adoption via a variety of means. To that end, the Ministry of New and Renewable Energy (MNRE) has launched the “Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM)” Yojana.

PM KUSUM yojana intends to replace farm diesel pumps with solar water pumps, solarize grid-connected water pumps, and build new renewable energy facilities around the nation.

It is one of the greatest endeavors on the planet to provide sustainable energy to over 3.5 million farmers by solarizing irrigation pumps and enabling distributed solar installations.Around 30 million agricultural pumps have been installed in India, with roughly 10 million being diesel-powered.

PM KUSUM yojana

Leading provider of rooftop solar systems Navitas Solar is prepared to support this government endeavor by supplying turnkey solar agricultural pump systems. Navitas’ track record of offering rooftop solar energy solutions is outstanding.

Farmers will get a 60% government subsidy under PM KUSUM scheme, with the government providing 30% of the cost through a loan and farmers contributing just 10% of the project’s total cost.

The PM Kusum Yojana essentially offers farmers with an income stream that is risk-free. It will contribute to avoiding overexploitation of groundwater while ensuring farmers always have access to electricity. As a result, the agriculture sector’s carbon emissions will be reduced.

The plan is funded to the tune of INR 340.35 billion and seeks to construct 30.8 GW of solar power by December 31, 2022.

Reference- MNRE website, Money Control, Economic Times, Niti Aayog website