Rooftop solar systems, expansion of EVs in Budget 2024

FM Sitharaman presented Budget 2024

Finance Minister Nirmala Sitharaman's interim Budget reiterated the government’s commitment to clean energy and sustainability.

Sitharaman announced aid for installing roof-top top solar system for 1 crore home to obtain up to 300 units of free electricity per month. It will help households save Rs 15,000-Rs 18,000 annually, she said. The surplus power can be sold to distribution companies.

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The budget reiterated commitment to “net zero” by 2070. To attain this, viability gap funding will be provided for using offshore wind energy with an initial capacity of one gigawatt.

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Liquefaction and coal gasification with a capacity of 100 MT will be set-up by 2030. Financial assistance will be provided for biomass aggregation machines for collection, the minister said.

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The Budget 2024 proposes to expand the electric vehicles ecosystem by supporting manufacturing and charging infrastructure in India. The government will also push for adoption of e-buses in public transport networks through payment security mechanisms.