Context
The Union Cabinet has approved the ₹5,070-crore Pradhan Mantri Surya Sarovar Yojana to promote floating solar power through financial assistance for projects on reservoirs and other water bodies. The scheme aims to achieve 5,000 MW of floating solar capacity by 2030–31.
Explanation
- Floating Solar Photovoltaic (FPV) systems are solar panels installed on reservoirs, lakes, dams and other water bodies instead of land.
- The scheme will be implemented by the Solar Energy Corporation of India (SECI) and provides Central Financial Assistance (CFA) for eligible projects.
- Projects must include Battery Energy Storage Systems (BESS) to improve grid stability, meet peak demand and reduce renewable energy curtailment.
- Floating solar reduces land acquisition issues, lowers water evaporation, suppresses algae growth and improves panel efficiency through natural cooling.
- It supports India’s Renewable Energy targets, Nationally Determined Contributions (NDCs), energy security and the Panchamrit commitments announced at COP26.
- Major potential exists in large reservoirs, with projects complementing ground-mounted and rooftop solar installations.
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