News: Union Cabinet approved PM Surya Sarovar Yojana (PM-SSY) with an outlay of ₹5,070 croreà Aims to boost floating solar capacity and strengthen India's energy security.
Highlights
- Type → Central Sector Scheme.
- Ministry → Ministry of New and Renewable Energy (MNRE).
- Implementing Agency → Solar Energy Corporation of India (SECI).
- Objective → Promote Floating Solar Photovoltaic (FSPV) projects integrated with Energy Storage Systems (ESS).
Key Features
- Target → Develop 5 GW of FSPV by FY 2030–31.
- Energy Storage → Mandatory 2-hour battery storage totaling 10,000 MWh.
- Central Financial Assistance (CFA) → ₹1 crore per MW after project commissioning.
- Project Support → Up to ₹50 lakh per project for bathymetric and hydrographic studies.
Significance
- Supports India's 500 GW non-fossil electricity capacity target by 2030.
- Promotes Aatmanirbhar Bharat, enhances grid reliability, and can reduce 10 million tonnes of CO₂ emissions annually.
Floating Solar Photovoltaic (FSPV)
- Definition → Solar PV systems installed on reservoirs, lakes, dams, and industrial ponds.
- Advantages → Saves land, reduces water evaporation, and improves solar panel efficiency by 5–10% through natural cooling.
- Challenges → Higher capital cost, complex anchoring systems, and corrosion due to continuous water exposure.