PM Surya Sarovar Yojana (PM-SSY) (Economy)
PM Surya Sarovar Yojana (PM-SSY) (Economy)
Why In News:
The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with an outlay of Rs 5,070 crore to develop floating solar photovoltaic projects integrated with energy storage systems, using India's reservoirs and inland water bodies.
Source: The Hindu, Page 10, 1 Aug 2026, 'Cabinet approves scheme to promote floating solar plants'
Key Features
Target: 5,000 MW of Floating Solar Photovoltaic (FSPV) capacity, up from the current level of only about 700 MW.
Storage Requirement: Co-located Energy Storage Systems with a minimum capacity of two hours, amounting to 10,000 MWh.
Central Financial Assistance: Rs 1 crore per MW after successful commissioning, plus up to Rs 50 lakh per project for feasibility studies including bathymetry and hydrography assessments.
Timeline: Projects to be sanctioned between FY 2026-27 and FY 2030-31, with financial support disbursed up to FY 2032-33.
Nodal Ministry: Ministry of New and Renewable Energy (MNRE).
Expected Impact: Cuts about 10 million tonnes of CO2 emissions annually and is projected to create 16,000 to 17,000 jobs.
Why Floating Solar
Land Saving: Uses existing reservoirs and industrial ponds, easing competition for scarce land needed for ground mounted solar.
Efficiency Gain: The cooling effect of water below the panels improves generation efficiency by about 5 to 10 percent over land based systems.
Reduced Evaporation: Floating panels also cut evaporation losses from reservoirs, an added water conservation benefit.
Key Facts for Prelims
NISE: The National Institute of Solar Energy (NISE) is an autonomous institute under the Ministry of New and Renewable Energy (MNRE) and serves as India’s apex body for solar research, testing, certification, skill development, and technical support.
Located at Gwal Pahari, Gurugram (Haryana), it was formed by upgrading the Solar Energy Centre to strengthen India’s solar mission and renewable energy transition.