This solar power scheme for farmers will enable them to generate electricity for their captive consumption as well as sell the surplus power to the grid and earn an extra buck!
- The pilot project of this scheme was announced in Gandhinagar, Gujarat by Chief minister Vijay Rupani.
- The CM termed it a revolutionary step towards empowering farmers to generate their own electricity using solar energy and help doubling their income.
About Suryashakti Kisan Yojana (SKY):
- Farmers having existing electricity connection will be given solar panels as per their load requirements.
- The State and Central governments will give 60 per cent subsidy on the cost of project.
- The farmer is required to take 5 per cent cost, while 35 per cent will be provided to him as an affordable loan with interest rates of 4.5-6 per cent.
- The scheme duration is 25 years, which is split between 7-year period and 18-year period.
- For the first 7 years, farmers will get per unit rate of Rs 7 (Rs 3.5 by GUVNL + Rs 3.5 by state govt). for the subsequent 18 years, they will get the rate of Rs 3.5 for each unit sold.
- As per the Chief Minister, the work on the scheme will begin from July 2.
