On Tuesday, Prime Minister Narendra Modi launched the PM Solar Panel Yojana registration, also known as pm solar rooftop yojana 2024, initially announced in the Interim Budget of 2024-25 by the Hon’ble Finance Minister. The scheme, with an estimated investment of over Rs 75,000 crores, aims to benefit over one crore households monthly, providing free Electricity Distribution Company for 300 units per month. Additionally, consumers purchasing solar panels will receive a subsidy based on per kilowatt installation. Beneficiaries can avail loans from banks like State Bank of India (SBI), Union Bank of India (UBI), Canara Bank, etc. Here, we'll delve into the scheme's features and application process.
PM Solar Rooftop Scheme Features:
- Space Requirement: 10 square meters of rooftop space is needed to install 1 kilowatt of solar gadget. A 20% rebate is provided for solar panels ranging from 4 kW to 10 kW.
- Bill Reduction: Installing solar panels in offices or factories can reduce bills by about 30-50% under the scheme.
- Warranty: Solar power panels have a minimum warranty of 10 years and a maximum of 25 years with an 80% performance guarantee.
- Investment Recovery: Indian consumers can recover their investment in the first 5 to 6 years. Excess energy generated can be sold back to the grid.
PM Surya Ghar Muft Bijli Yojana Benefits:
- Cost Savings: Installation of solar panels can save up to Rs. 15,000-Rs. 18,000 annually on energy bills.
- Electric Vehicle Charging: Solar panels enable the installation of electric vehicle charging points.
- Entrepreneurship Opportunities: The scheme offers entrepreneurship opportunities to vendors and additional job opportunities for technical experts.
Eligibility Criteria:
- Rooftop space of 10 sq meters or more.
- Indian Citizenship proof (Aadhar Card, Address Proof, Bank Passbook, Mobile Numbers, Passport Size Photo, Energy Bill).
Subsidies, Bank Loans, and Interest:
- Maximum grant of Rs 78,000 per month; for households with less than 300 units per month and solar panels of 2KW or more, the grant amount is Rs 30,000/kilowatt.
- Additional grant for a capacity of 3 KW or more is Rs 18,000/kW.
- SBI, UBI, and Canara Bank offer loans with varying terms and interest rates for solar panel installation.
How to Apply for PM Surya Ghar Muft Bijli Yojana:
- Visit the official website solarroofop.in and click on ‘apply for the rooftop solar’.
- Register and fill in your details.
- Download SANDES (Solar Installer for Android or IOS) from Google Play Store and use the provided QR code.
- Enter OTP through Mobile Number Authentication and verify your email address.
- Log in with your registered customer account number and mobile number.
Upon registration, you'll be eligible for the PM Kusum Yojana status, and the subsidy will be available within 30 days after installation.
