PM Surya Ghar: Muft Bijli Yojana is a rooftop solar scheme launched by the Hon'ble Prime Minister of India in February 2024.
The scheme aims to offer up to 300 units of free electricity per month to up to 1 crore homes nationwide and financial aid in the form of subsidies to homeowners who opt for rooftop solar plants. Read on to learn the key benefits of the PM Surya Ghar Yojana rooftop solar panel scheme.
Subsidy for Purchasing Rooftop Solar
Under the PM Surya Ghar Yojana, homeowners are eligible for subsidies to offset the cost of purchasing and installing rooftop solar panels. These subsidies provide financial assistance to make solar energy more accessible and affordable for households across India.
Additional Income Through Sales of Surplus Power
Homeowners participating in the PM Surya Ghar Yojana have the opportunity to generate surplus electricity through their rooftop solar panels. They can sell this excess power back to distribution companies (DISCOMs), thereby generating additional income and contributing to the overall sustainability of the energy grid.
Savings on Electricity Bills
By harnessing solar energy through rooftop panels, homeowners can significantly reduce their dependence on grid electricity. This leads to substantial savings on electricity bills over time, as solar power is a renewable and cost-effective alternative to traditional grid electricity.
Collateral-Free, Low-Interest Loans
The scheme also offers collateral-free, low-interest loans to homeowners for purchasing residential rooftop solar systems with a capacity of up to 3 kW. These loans provide financial support to homeowners who wish to invest in solar energy and further promote the adoption of renewable energy technologies.
Up to 300 Units of Free Electricity Every Month
1 crore subscribers of the PM Surya Ghar Yojana will receive the benefit of up to 300 units of free electricity every month. This allocation of free electricity helps reduce the financial burden on homeowners by lowering their monthly utility bills and promoting the adoption of renewable energy sources.