Solar in Madhya Pradesh: Portfolio, Policy and Solar Subsidy (2024)

Did you know, the world’s largest floating solar power plant with a capacity of 600 MW is set to come up in Madhya Pradesh? Also, the state is home to the 5th largest solar plant in India, Rewa Ultra Mega Solar, which supplies clean energy to multiple states.

These massive projects are proof of the immense solar potential of MP and the efforts that the state government is making towards harnessing the resource.

Let’s take a deep dive into the solar potential of Madhya Pradesh and understand how beneficial it would be for a consumer to invest in a solar power plant here.

Residential consumers and housing societies (with a max. capacity of 500kW) from Madhya Pradesh can directly apply for central financial assistance from the ‘National Portal for Rooftop Solar’. The newly launched central portal allows one to track the entire subsidy process, from the submission of the application forms to the transfer of funds, online.

Madhya Pradesh’s present energy needs are primarily reliant on conventional energy sources. The Government of Madhya Pradesh (GoMP) recognizes the growing concern about climate change and global warming, as well as the urgency with which these issues must be addressed. Based on this, the MP government introduced its ambitious solar energy policy in 2022.

• Increase the share of renewable energy in the energy mix to 50% by 2030.
• Supply renewable energy to other non-renewable energy states.
• To transform 20%, 50%, and 100% state-level government departments into 100% green buildings by 2024, 2027, and 2030 respectively.

• Hawkers and street vendors shall be encouraged to use solar lanterns.
• The state would promote the manufacturing of equipment such as silicon ingots and wafers, solar cells, and modules.
• Solar-powered street lighting would be encouraged.

• 40% Accelerated Depreciation.
• 10 year Tax holiday on solar projects.
• Loans available for up to Rs.15 Crore for renewable energy projects under Priority sector lending.
• Applicable as per SECI guidelines.

Madhya Pradesh experiences about 300 days of clear skies and sunshine every year. The state receives 5.5 kWh/ sq.m/per day of solar irradiation. Also, currently, MP has an installed solar capacity of 4.1 GW.

What’s more, according to MNRE, MP has a solar energy potential of over 61 GW, which the state government is trying to harness through major projects and policies.

Madhya Pradesh has 5 large solar plants with a total capacity of 2,750 MW (2.75 GW). Along with this, MP is planning to produce more than 10 GW of solar energy. The upcoming Shajapur solar park would be the biggest solar park in Madhya Pradesh with an installed capacity of 1.5 GW.

In March 2023, the state government announced plans to turn Sanchi into the world’s first net zero city. In another major project, the state shared plans to develop 3 new floating solar projects at an investment of ₹7,500 crores.

India’s first solar power storage plant, with a capacity of 600 MW, will soon be established in Morena, Madhya Pradesh. This plant will provide a continuous solar energy supply, even at night.

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