Cabinet approves 'Pradhan Mantri Surya Sarovar Yojana (PM-SSY)' for Development of Floating Solar Photovoltaic Projects with Energy Storage Systems with a total outlay of Rs.5,070 crore

Why in news

The Union Cabinet has approved the 'Pradhan Mantri Surya Sarovar Yojana (PM-SSY)' aimed at developing Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS).

Exam relevance

GS3 · Economy, Science & Technology, Environment & Ecology · Prelims · Mains

Key facts

1. The scheme envisages the development of 5,000 MW of Floating Solar Photovoltaic projects with co-located Energy Storage Systems.
2. The energy storage systems will have a minimum storage capacity of two hours, totaling 10,000 MWh.
3. Projects will be sanctioned from FY 2026-27 to FY 2030-31, with financial support disbursement continuing up to FY 2032-33.
4. The National Institute of Solar Energy (NISE) has estimated a floating solar potential of approximately 102.18 GWp.
5. Central Financial Assistance (CFA) of Rs. One crore per MW will be provided for eligible FSPV projects post-commissioning.
6. Additional CFA of up to Rs.50 lakh per project is available for feasibility studies, including bathymetry, hydrography, and environmental assessments.

Prelims pointers

• Pradhan Mantri Surya Sarovar Yojana (PM-SSY) focuses on Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS).
• The scheme aims to develop 5,000 MW of FSPV capacity with 10,000 MWh of energy storage.
• Central Financial Assistance (CFA) of Rs. One crore per MW is provided for commissioned projects.
• Feasibility studies for projects can receive CFA up to Rs.50 lakh.
• The estimated floating solar potential in India is approximately 102.18 GWp.

Mains practice question

Discuss the significance of the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) in enhancing India's renewable energy capacity and addressing energy storage challenges. What are the potential benefits and hurdles in its implementation?

Static linkage

The scheme aligns with India's renewable energy goals and efforts to diversify energy sources, particularly solar power, by utilizing water bodies. It relates to national policies on climate change mitigation and energy security.

Significance

The PM-SSY aims to harness the significant untapped potential of floating solar power, which can reduce land acquisition challenges and evaporation losses from water bodies. The integration of energy storage systems will enhance grid stability and reliability, addressing the intermittency of solar power. This initiative is expected to boost renewable energy capacity, contribute to India's climate targets, and promote technological advancements in the solar sector.