One crore households register for PM rooftop solar scheme within a month

| | New Delhi
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One crore households register for PM rooftop solar scheme within a month

Monday, 18 March 2024 | Pioneer News Service | New Delhi

The rooftop solar scheme ‘PM-Surya Ghar: Muft Bijli Yojana’ has garnered an overwhelming response, with over one crore households registering within just one month since its announcement by Prime Minister Narendra Modi.

States including Assam, Bihar, Gujarat, Maharashtra, Odisha, Tamil Nadu, and Uttar Pradesh have witnessed more than 5 lakh registrations each. The scheme aims to provide up to 300 units of free electricity every month to 1 crore households, with an investment of over Rs 75,000 crores. It also aims to reduce dependence on conventional power sources and promote renewable energy.

Prime Minister Narendra Modi on Saturday posted on social media X,  “Outstanding news! In about a month since it was launched, over 1 crore households have already registered themselves for the PM-Surya Ghar: Muft Bijli Yojana. Registrations have been pouring in from all parts of the nation.”

“Those who haven’t registered should also do so at the earliest,” he added.  The scheme focuses on the household segment with up to 3 kW system, which covers most of the residential consumers in the country. According to an official from the Ministry of New and Renewable Energy which is overseeing the scheme, the subsidy program offers a 60 per cent subsidy on systems up to 2 kW capacity and a 40 per cent subsidy on systems between 2-3 kW.

The subsidy is limited to systems up to 3 kW capacity, meaning no financial assistance will be given for capacities exceeding 3 kW.

In case the cost of system installation goes beyond subsidy, households have the option to access collateral-free, low-interest loans until the subsidy is credited. If a consumer cannot cover the entire upfront cost required for installation, they can pay 10% upfront and secure a loan for the remaining 90% at a 7% interest rate. Once the central subsidy is disbursed upon system commissioning, it offsets the loan amount, with the remaining 30% repaid over a 10-year period through monthly installments, said the official.

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