Finance minister Nirmala Sitharaman first announced ‘PM Surya Ghar: Muft Bijli Yojana’ during the Interim Budget 2024-25. The primary aim of this scheme is to promote solar energy. People will be encouraged to install solar panels on their rooftops to generate electricity. The details of this scheme have now been announced. They are pretty attractive with a promise of up to 300 units of free electricity per month.
What is PM Surya Ghar Yojana?
As per the scheme, approximately 1 crore Indian households can get up to 300 units of electricity free every month. The free electricity may amount to an annual savings of Rs 15,000-Rs 18,000, according to an estimate previously announced by Prime Minister Narendra Modi. The subsidy for solar panel installation will directly be credited to the bank account of beneficiaries.
Bank loans will also be available at concessional rates to those willing to avail of PM Surya Ghar Yojana. The government has earmarked around Rs 75,000 crore for this scheme.
Earlier, the subsidy amount was Rs 18,000 per KW in the general category. As per this scheme, now the solar rooftop installations with capacity up to 2 KW will get Rs 30,000 subsidy per KW. (Total Rs 60,000) Third and subsequent KW capacity installation will have a subsidy of only Rs 18,000. So, total subsidy is capped at Rs 78,000.
How to apply for PM Surya Ghar Yojana
Register
> You will only require your valid electricity bill and bank passbook/account statement/cancelled cheque to apply.
> Register at National Portal through the link https://solarrooftop.gov.in/. >Apply for rooftop solar > Register
> You will have to select your state, district, electricity distribution company/utility provider details and your consumer account number.
> Confirm your registered name displayed on the screen as per your electricity distribution company.
> Then, enter your mobile number and verify it using OTP. You can also provide an email ID. (Email ID is optional)
Apply for installation
> Login and Express your interest using the button “I am interested.”
> Fill out the online form by providing your details like
- name, address, category (General/OBC/SC/ST/Other)
- electricity distribution company’s division, subdivision
- sanctioned load (you will get this in your electricity bill)
- Category (Residential/Residential welfare association/ commercial/ institutional etc.)
- Proposed solar plant capacity in KW
- location
- You can use calculator to get more details about payback period, estimated project cost, subsidy available, required investment from you, electricity generation capacity, financial savings per day/year, emissions savings, return on investment
> Next, upload your latest electricity bill (within the last 6 months)
> Then, submit your form.
> Also add your bank account details for subsidy.
> Download your application acknowledgement.
> You will now have to wait for feasibility approval from your DISCOM (electricity distribution company)
> Once you receive the approval, you can install the solar plant using any of the approved vendors. (The list of registered vendors is visible in the ‘vendors in my area’ tab in your account.) Check for the concessional bank loan if required.
Get net meter and commence operation
> Once the installation is complete, upload your photo with the installation and apply for the net meter.
> DISCOM will have to complete the inspection of your rooftop solar & then a net meter will be installed.
> After inspection, once net meter is installed, your discom will provide you with an online commissioning certificate.
> Finally, apply for a subsidy. (you can apply online)
> The subsidy will be credited to your account directly within 30 days.
Apply Now!
Given the push towards sustainable development, it is important to be aware of such initiatives. The scheme’s potential to reduce electricity bills is especially noteworthy. If the scheme is useful to you, you can go directly to the government portal and apply ASAP!
Note: The above content is for informational & educational purposes only. Not advice. Please consult your financial advisor before investing.
