India's solar power costs are among the lowest in the world, Mr Joshi said.
Union Minister Prahlad Joshi today said that seeking votes in exchange for free electricity is a very dangerous trend. Speaking at the India Sustainability Mission - Conclave, Mr Joshi said, "Providing electricity entirely free is not sustainable. However, the PM Surya Ghar Muft Bijli Yojana is really sustainable."
Mr Joshi drew a distinction between unsustainable giveaways and policies like the PM Surya Ghar Muft Bijli Yojana, a scheme that aims to provide 1 crore households with 300 units of free electricity per month. "This scheme is different because it taps into renewable energy, allowing households to not only save money but also generate income by selling surplus power back to the grid," Mr Joshi said.
The initiative, which will reportedly help families save Rs 15,000 crore annually, represents a more sustainable approach to energy relief while promoting solar energy production at the grassroots level, the minister said.
"Vote for us and we will give free electricity, politicians would say. But they are not giving free electricity but rather making you free from electricity," Mr Joshi said. "This is a very dangerous trend. That is why renewable energy can do away with all these problems.
Mr Joshi outlined the strides India has made under the leadership of Prime Minister Narendra Modi in fostering a competitive renewable energy industry. "A sector growing so rapidly will definitely provide momentum to India's growing economy," he remarked.
India's solar power costs are among the lowest in the world. Over the past decade, the cost of solar energy has dropped dramatically from Rs 10.95 per unit in 2010-11 to just Rs 2.60 in 2023-24. This has not only made solar energy more accessible to the masses but has also facilitated a significant expansion in installed capacity. India's renewable energy capacity has grown by 165 per cent over the last ten years, from 75.52 GW to more than 203 GW, Mr Joshi said,
One of the key challenges Mr Joshi highlighted is the need for large-scale grid storage to manage the increasing share of renewable energy in the country's energy mix. As more solar and wind energy is generated, the ability to store excess electricity and manage its distribution becomes crucial, he said. To address this, the government is planning a policy to promote pumped storage projects (PSP), which will store surplus energy and ensure stable supply even during periods of low renewable energy generation.
Another critical initiative is the Production Linked Incentive (PLI) Scheme for High-Efficiency Solar PV Modules, with an investment of Rs 24,000 crore. The scheme has already led to the establishment of 48,337 MW of solar manufacturing capacity, helping India meet its green energy goals. Joshi pointed out that more than 2.5 lakh rooftop solar systems have been installed under the PM Surya Ghar Muft Bijli Yojana.
The minister revealed that a new policy to promote pumped storage projects (PSPs) is also in the pipeline. These projects aim to store surplus electricity and integrate renewable energy sources more efficiently into the national grid, thereby accelerating India's shift toward a low-carbon economy.