PM Surya Ghar Muft Bijli Yojana

Launched on 15th February 2024, the PM Surya Ghar Muft Bijli Yojana is a government solar panel scheme that aims to help Indian households switch to solar power and save on electricity bills. Under this scheme, the Indian government provides a solar panel subsidy so that it becomes cheaper for homeowners to install rooftop solar panels.

With this solar rooftop yojana, the government looks forward to providing up to 300 units of free electricity per month to eligible households. So, if you have a house and you are eligible, you can certainly reduce or completely eliminate your electricity bill. The scheme has been introduced to promote renewable energy as well so that India moves toward a clean and green future.

Let’s learn in detail what is the PM Surya Ghar Muft Bijli Yojana with the following read. In this blog, we will discuss the main objectives of this rooftop solar scheme, its benefits, implications, cost and more.

Objectives and Vision of the Scheme

The major objectives and goals of the PM Surya Ghar Muft Bijli Yojana are:

• To Encourage Solar Energy Use: As sunlight is free, anyone can take advantage of this scheme and help them generate solar power instead of depending on power companies.
• To Reduce Electricity Bills: Now that the government is providing households with 300 units of free electricity every month, it would reduce monthly electricity costs.
• Promote Renewable Energy: As mentioned earlier, the scheme has been introduced to promote clean and green energy, in an attempt to reduce pollution.
• To Make Solar Affordable: Yes, with a solar panel subsidy, the government is also looking to make solar power more accessible.
• To Create Jobs: With the demand for solar panel installation and maintenance, the scheme would also create employment opportunities.

Key Features of the Scheme

The PM Surya Ghar Muft Bijli Yojana offers households numerous benefits and features and here are some of them:

• Government Subsidy: If you are a homeowner, you can receive financial support to install solar panels.
• 300 Units of Free Electricity: You do not have to make any payment for the first 300 units of electricity every month.
• Easy Loan Access: You can apply for collateral-free loans of up to ₹2 lakh for these solar panels and other installation costs. However, the maximum loan amount you can avail is ₹6 lakh.
• Covers 1 Crore Homes: The scheme looks to target 1 crore households across India.
• Official Government Support: The installations would be done through government-approved vendors to ensure quality and safety.

Eligibility Criteria To Avail Benefits Of the Scheme

So, the PM Surya Ghar Muft Bijli Yojana is a win-win situation for households and the government. But how do you qualify for it? Well, here are the eligibility criteria you need to fulfil to avail the benefits of this solar rooftop yojana:

• You need to be an Indian citizen as only Indian residents can apply.
• You must own the house where the solar panels are to be installed.
• Your home should also have a valid electricity connection.
• Make sure you have not used the subsidy. If you have already received a solar panel subsidy from another government scheme, you cannot apply again.

Step-by-Step Guide to Applying for the Scheme

Here’s how you can easily apply for the solar rooftop yojana:

Go to the government portal (pmsuryaghar.gov.in) for the PM Surya Ghar Muft Bijli Yojana. Register with your mobile number and electricity details.

Provide details about your home including your electricity meter number, address and personal details.

Now, wait for the local electricity board to review your application and verify your details.

Once verified, the government-approved vendor will install the panels on your rooftop.

Net metering would help you track how much electricity your solar panels generate.

The local electricity board team will inspect and approve your installation.

Once the inspection is done, the solar panel subsidy will be transferred to your bank account.

Understanding the Solar Panel Subsidy Structure and Cost Savings

Let’s first understand the subsidy structure. The solar panel subsidy has been formed to make it affordable for people to install panels. So, here’s how much you can get:

• ₹30,000 per kW (for up to 2 kW capacity)
• ₹18,000 per kW (for an additional 3 kW capacity)

Now, the question is how much you can save.

Well, if your solar panels generate enough power, you would not have to pay for electricity at all. With this, you can easily save up to ₹2500 per month on your bills.

Conclusion

Undoubtedly, PM Surya Ghar Muft Bijli Yojana makes for a great investment for homeowners. It would not only help you save money on electricity bills but also promote clean energy.

Now, if you need quick money to set up your solar panels or for any other urgent need, you can apply for an instant personal loan with CASHe. CASHe offers loans of up to ₹3 lakh. Apply on the CASHe app and get the loan approved in just a few minutes.