All about PM Surya Ghar Muft Bijli Yojana

PM Surya Ghar Muft Bijli Yojana is yet another ambitious venture from the Indian Govt aimed at promoting sustainable development in the nation.

Capitalizing on the Solar Energy tapped by millions of Solar Panel embedded homes in the country, will help Indians to

Already within a month of its launch on February 13th 2024, over 1 crore households have registered under the scheme. The scheme was announced in the Interim Union Budget of 2024 with a total estimated investment of Rs 75000 Cr.

The scheme as the name sounds, shall provide rooftop solar panels for the reduction of dependency on traditional electricity, and where it can help save 300 units of electricity.

Features of PM Surya Ghar Muft Bijli Yojana

The Solar Rooftop scheme will benefit Indians with the following

• 1000 Billion units of green electricity

• 720 million tonnes reduction of CO2 & equivalent emissions

• 30 Gigawatts of additional solar capacity in household sectors across the nation

• 17 Lakh direct jobs related to supply chain, installation, logistics, manufacturing etc.

How much money we can save with 300 units of Electricity?

On average, a rural household can save upto Rs 15,000 to Rs 18,000 worth of electricity under the scheme. It also depends upon the size of the utilizable space on the terrace or the roof of the house and also the capacity or consumption.

What are the other ways in which PM Surya Ghar Muft Bijli Yojana helps households?

As the age of EVs are on the rise, households can create charging stations for these electric vehicles and earn an income. This will help many rural families in the long run to be Atmanirbar.

Who is eligible for the Solar Rooftop Scheme?

All Indian Households can avail of the PM Surya Ghar scheme. The scheme will allow a subsidy for rooftop systems up to 3 kilowatts (kW) which comes to 3000 watts.

The basic eligibility requirements are

• The Applicant must be an Indian Citizen

• Applicant's household must have a valid electricity connection

• Must have roof capable to install a solar panel

• Must have never availed a solar subsidy or scheme before

How to avail of the PM Surya Ghar Muft Bijli Yojana Subsidy?

Part 1

1) Register on the official portal of pmsuryaghar.gov.in

2) Select your state and also the Electricity Company or Board

3) Enter the relevant details

Part 2

1) Login with credentials you've created

2) Apply by filling out the form

Part 3

Once you get the approval, get the plant installed by any of the registered vendors

Part 4

Once the plant is installed, submit the details and get a net meter

Part 5

You can generate the Commissioning report from the portal. However, there will be an inspection from DISCOM.

Part 6

Once you get the inspection report, submit bank account details. You will receive the subsidy to your bank account within 30 days.

How much subsidy will be provided under the Solar Rooftop Scheme or PM Surya Ghar Muft Bijli Yojana?

• The solar scheme provides a significant subsidy, covering 60% of the cost for systems up to 2 kW and 40% for those between 2 to 3 kW in capacity.

• The subsidy is limited to systems of up to 3 kW.

• For consumers, this means they could receive Rs 30,000 for a 1 kW system, Rs 60,000 for a 2 kW system, and Rs 78,000 for a 3 kW system or larger, based on current benchmark prices.

• Households looking to install home solar systems up to 3 kW can access low-interest credit options without needing collateral.

• Interest rates are as low as 7%, with a small premium of 0.5% above the prevailing repo rate determined by the Reserve Bank of India.

• If the repo rate drops from its current 6.5% to 5.5%, consumers could benefit from a reduced effective interest rate of 6%.

Solar Rooftop Scheme or PM Surya Ghar Muft Bijli Yojana will definitely be a game-changer for us Indians and it will help us to move towards a sustainable future.