Soaring electricity tariffs and cost of living are a constant dampener for us today. Therefore, if the recently launched PM Surya Ghar Yojana could help reduce your electricity bill to practically zero, it would be a dream come true! The PM Surya Ghar Muft Bijli Yojana, launched in February 2024 by Prime Minister Narendra Modi, aims to reduce electricity bills to nil for millions of households. Therefore, PM Surya Ghar Yojana is a dream opportunity to harness the sun’s energy and revolutionise your home’s power supply. Moreover, the innovative initiative offers substantial subsidies to make rooftop solar panel installation more affordable than ever. Also, by adopting solar, you can reduce electricity bills, go green, and enjoy long-term savings.
Therefore, the government-promoted rooftop solar scheme isn’t just about saving you money – it is about empowering you to generate clean electricity. Let us talk numbers, it is about up to 300 free units every month for a whopping 1 crore homes across India! Also, the government is sweetening the deal with additional subsidies to help you install rooftop solar panels.
Read along to know the key benefits of this scheme, including generous subsidies, reduced electricity costs, environmental impact, energy independence, and long-term financial gains. So, let us dive in and discover the benefits of the PM Surya Ghar Yojana and understand how to transform your home into a mini power station!
Prime Benefits of PM Surya Ghar Yojana
The PM Surya Ghar Yojana offers a multitude of benefits for participating households. Let’s delve into the key advantages of this initiative:
Subsidy for Purchasing Rooftop Solar
The PM Surya Ghar Yojana, enables homeowners to be eligible for subsidies which helps to offset purchasing and installing rooftop solar panels costs. Additionally, these subsidies provide financial assistance to people. Therefore, making solar energy more accessible and affordable for households across India.
Additional Income Through Sales of Surplus Power
The mega initiative helps the beneficiaries utilise the opportunity to generate surplus electricity through their rooftop solar panels. Consequently, they can sell the excess power to distribution companies (DISCOMs). Therefore, generating additional income and contributing to the overall sustainability of the energy grid.
Savings on Electricity Bills
Homeowners can reduce their dependence on grid electricity by harnessing solar energy through rooftop panels. Consequently, they can increase substantial savings on electricity bills over time. Moreover, solar power is an alternative energy source, which is renewable and cost-effective.
Collateral-Free, Low-Interest Loans
The government-backed scheme offers collateral-free, low-interest loans to homeowners. Therefore, they can purchase residential rooftop solar systems with a capacity of up to 3 kW. Also, these loans provide financial support to homeowners who wish to invest in solar energy. Consequently, this further promotes the adoption of renewable energy technologies.
Up to 300 Units of Free Electricity Every Month
Notably, 1 crore subscribers of the PM Surya Ghar Yojana stand to receive the benefit of up to 300 units of free electricity every month. Also, this allocation of free electricity will help reduce the financial burden of homeowners. Additionally, it lowers their monthly utility bills and promotes the adoption of renewable energy sources.
Self Sufficiency
Beneficiaries will have energy self-sufficiency and decreased reliance on traditional power sources with solar panels. The beneficiaries have a 24-hour power supply and uninterrupted electricity with rooftop solar panels.
PM Surya Ghar Yojana Solar Subsidies Explained
The PM Surya Ghar Muft Bijli Yojana launched by the government of India intends to
boost solar adoption across the country to meet the increasing electricity demand. Moreover, under this scheme, residential consumers setting up rooftop solar systems can avail up to 60% subsidy on the installation cost!
Also, people from across the country can apply for these grants. Let us now explore the incentives and the process of claiming it.
Solar Subsidy Amount
- Solar energy systems with a capacity of up to 2 kW are eligible for a subsidy of up to ₹30,000/ kW.
- For a system capacity of 3kW, consumers can avail of a subsidy of ₹78,000.
- For all system capacities exceeding 3kW, a fixed subsidy of ₹78,000 will be provided.
Also, this Central Financial Assistance (CFA) is based on either the module capacity or the inverter capacity, whichever is lower.
Additionally, some Indian states including Jammu, Uttar Pradesh, Assam, and Kerala offer separate solar subsidies apart from the CFA. However, these state incentives are time-bound. Thus, they are provided subject to availability and active campaigns.
Significant Benefits of PM Surya Ghar Yojana
The PM Surya Ghar Yojana can transform the Indian energy landscape. Moreover, this scheme will provide significant gains to the beneficiaries, including reduced electricity bills, increased energy independence, reduced carbon emissions, and job creation.
- The subsidy is provided through the Central Financial Assistance (CFA) scheme of the MNRE.
- The subsidies are available for both on-grid and off-grid rooftop solar systems.
- The rooftop solar system’s maximum capacity which can be installed under the scheme is 10 kW.
- The beneficiaries will sign a power purchase agreement (PPA) with a DISCOM.
- The PPA is for 25 years.
- Model Solar Villages will be developed in each district of the country. Also, they will act as a role model for adopting rooftop solar in rural areas.
- There are incentives for Urban Local Bodies and Panchayati Raj Institutions to promote rooftop solar (RTS) installations in their areas.
- The National Portal will help households to apply for subsidies. Also, help to select a suitable vendor for installing rooftop solar.
- Moreover, Urban Local Bodies and Panchayati Raj Institutions will benefit from incentives. This is to promote rooftop solar (RTS) installations in their areas.
Conclusion
The PM Surya Ghar Yojana is undoubtedly a significant step towards a greener and more sustainable India. Additionally, by providing substantial subsidies on solar power systems, the government empowers citizens to adopt clean energy solutions. Therefore, this benefits the environment. Also, offers long-term financial savings for households.
This guide must have enlightened you about getting reduced electricity bills, environmental impact reduction, government incentives, and energy independence.
If you still have some doubts about solar energy solutions and the subsidies of the PM Surya Ghar Yojana, visit Solar Prabha offices or give us a call at +91-7099030047, We are here to answer your queries about solar solutions that fit your needs to illuminate brighter future.
