Kusum Yojana is a great opportunity to earn a lot by installing a solar plant. The Mohan Yadav-led Madhya Pradesh government started this scheme with this objective, under which the electricity generated from the solar plant will be purchased from the public. Up to 30 percent subsidy is given by the government for setting up the plant.

At present, Madhya Pradesh is generating 7 thousand MW of electricity from renewable energy sources. This is 21 percent of the total energy capacity of the state. The target is to increase it to 50 percent by the year 2030. For this, the government is motivating common citizens as well as private enterprises.

Any person can apply for PM Kusum Yojana, provided he is at least 18 years of age. For your information, let us tell you that solar plants with a capacity of 0.5 MW to 2 MW are for irrigation in agriculture. The capacity can be adjusted up or down according to the land. If an organization installs the plant, its net worth should be Rs 1 crore per megawatt, although there is no net worth requirement for private investment.

Three parts of PM Kusum Yojana

Apart from this, you should know that PM Kusum Yojana has three components. In Part A, decentralized renewable energy facilities of 10,000 MW will be installed. These will be located on undeveloped land and will be connected to the grid. Farmers, cooperatives, gram panchayats, water user associations (WUA), and farmer producer organizations (FPO) will also get subsidy for the grid.

In Part B, farmers will get financial assistance of Rs 17.50 lakh for installing solar powered agricultural pumps. They can additionally convert diesel agricultural pumps with capacity up to 7.5 HP into solar powered pumps. No subsidy will be given for more capacity than this.

In Section C, subsidy will be given for the installation of 10 lakh solar installations. Power distribution companies will buy the electricity generated from solar facilities at a predetermined rate.