Everything About The PM Surya Ghar Muft Bijli Yojana 2024

Published: Monday, March 11, 2024, 11:42 [IST]

PM Surya Ghar Muft Bijli Yojana is a government scheme that offers subsidies for solar panels to eligible individuals. The scheme requires Indian citizenship, suitable roof for solar panels, valid electricity connection, and no prior subsidies for solar panels. Individuals can register on the national website and choose their preferred manufacturer and supplier for the rooftop solar system.

Prime Minister Narendra Modi introduced it on February 15.

The subsidy covers up to 40 per cent of the panel cost, and households can get 300 units of free electricity monthly. It aims to help one crore households in India, saving the government Rs. 75,000 crore yearly.

How PM Surya Ghar Muft Bijlee Yojana Works?

The scheme provides a 60 per cent subsidy for systems up to two kilowatts and 40 per cent for systems between two and three kilowatts, with a maximum subsidy of three kilowatts. This means households could get up to Rs 30,000 for one-kilowatt system, Rs 60,000 for two kilowatts, and Rs 78,000 for three kilowatts or more.

Why Choose PM Surya Ghar Muft Bijlee Yojana?

Households can save on bills and earn by selling surplus power to DISCOMs. The scheme promises yearly savings of around Rs 15,000 for a household using up to 300 units monthly with a three-kilowatt unit. Even after deducting the loan EMI, households can save Rs 1,265 monthly or Rs 15,000 yearly. Savings are higher for households without a loan.

Can Households Get A Loan For PM Surya Ghar Muft Bijlee Yojana?

Yes, households can get low-interest loans for residential solar systems without providing any collateral (like property). The loan for installing solar panels on their roofs (Residential RTS systems), is up to three kilowatts. The interest rate is 0.5 per cent higher than the Repo Rate set by the Reserve Bank of India. Currently, the Repo Rate is 6.5 per cent, so the interest rate for consumers is seven per cent. If the Repo Rate goes down to 5.5 per cent, the interest rate for consumers will also decrease to six per cent.

Benefits Of The Scheme Include:

Free electricity for households.
Reduced government electricity costs.
Increased use of renewable energy.
Lower carbon emissions.

Eligibility To Appply For PM Surya Ghar Muft Bijli Yojana:

The household must have an Indian citizenship.
The household must own a house with a roof suitable for installing solar panels.
The household must have a valid electricity connection.
There should be no previous subsidy for solar panels.

How to Apply for PM Surya Ghar Muft Bijli Yojana?

Go to the official website pmsuryaghar.gov.in.
Fill in your details like your state, electricity company, consumer number, mobile number, and email as directed.
Log in using your consumer number and mobile number.
Apply for rooftop solar using the form provided.
Complete the online application form.
Wait for your electricity company to approve if it's possible to install solar panels on your roof. Once approved, get the panels installed by a registered vendor.
After installation, submit the details of your solar panels and apply for a net meter.
The electricity company will inspect your setup and, if everything is okay, they will give you a certificate of commissioning.
Once you receive the commissioning report, provide your bank account details and a cancelled cheque through the website. You will get your subsidy in your bank account within 30 days.