The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with a total outlay of Rs 5,070 crore.
The scheme targets 5,000 MW of floating solar photovoltaic capacity with co-located energy storage of at least two hours, or 10,000 MWh.
Projects will be sanctioned between FY 2026-27 and FY 2030-31, with financial support disbursed up to FY 2032-33.
Central Financial Assistance is Rs 1 crore per MW on commissioning, plus up to Rs 50 lakh per project for feasibility studies.
India currently has only around 700 MW of floating solar capacity, so the scheme would multiply the segment several times over.
Floating solar mounts photovoltaic panels on pontoons anchored on the surface of a reservoir, lake or canal instead of on land. This avoids competing with agriculture or forests for land, cuts evaporation losses from the water body beneath, and gains a small efficiency benefit because water cools the panels. The trade-off is higher capital cost, the engineering demands of anchoring and mooring in variable water levels, and the need to study the effect on aquatic ecology before installation — which is why PM-SSY funds bathymetry and hydrography surveys separately.
Simple Analogy: It is the difference between parking your car in a field you could otherwise plough and parking it on a rooftop you were not using anyway — the same asset, placed where it costs you nothing else.
GS Paper 3 > Infrastructure: Energy; Conservation and Environmental Impact Assessment
General Awareness > Government Schemes
General Awareness > Government Schemes
General Awareness > Current Affairs
The term 'Domestic Content Requirement' is sometimes seen in the news with reference to
Answer: Developing solar power production in our country
Consider the following statements regarding carbon markets in India: Carbon credits can be generated by afforestation and renewable energy projects. India has launched a domestic voluntary carbon market. Carbon markets are monitored under the Income Tax Act, 1961.
Answer: Only 1 and 2 are correct
Solar panels mounted on floating structures on a water body rather than on land.
The measurement of the depth and shape of the floor of a water body, needed to design anchoring and mooring systems.
A capital subsidy paid by the Union Government per unit of capacity to make a project commercially viable.
Batteries or equivalent systems that store generated electricity for release when demand or tariffs are higher.