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On Tuesday, Prime Minister Narendra Modi unveiled the PM Solar Panel Yojana registration, also known as the pm solar panel yojana registration . Initially introduced by Finance Minister Nirmala S. Sitharaman in the Interim Budget for the fiscal year 2024-25, this initiative aims to benefit over 1 crore households monthly, with a substantial investment exceeding Rs 75,000 crores. The scheme promises to provide free Electricity Distribution Company capped at 300 units per month, to its beneficiaries and offers a final subsidy on solar panel purchases based on per kilowatt installation.
Key Features of PM Solar Rooftop Scheme:
Grid Overload Reduction: The scheme aims to alleviate the strain on conventional grid stations, particularly during peak hours.
Rooftop Space Requirement: Installation of 1 kilowatt of solar gadgets necessitates 10 square meters of rooftop space under this scheme.
Subsidy Incentives: A 20% subsidy is offered for installing solar panels ranging from 4 to 10 kilowatts, potentially reducing energy bills by 30% to 50%.
Warranty Benefits: Solar power panels for offices and factories come with a minimum 10-year warranty and an impressive 80% warranty for over 25 years.
Return on Investment: Solar panels for Indian consumers are expected to recover their investment within 5-6 years, with excess energy generated being sellable to the grid.
Benefits of Rooftop Solar Scheme/PM Surya Ghar Muft Bijli Yojana
Cost Savings: Households can save up to Rs 15,000-18,000 annually on their energy bills with solar roof panel installations.
Entrepreneurship Opportunities: The scheme opens avenues for entrepreneurship for vendors and provides job opportunities for technical experts in installation, maintenance, and manufacturing of Roof Top Solar System .
Eligibility Criteria:
Rooftop space of 10 sq meters or more.
Installation of at least 1 kW of solar panels.
Necessary documents include Aadhar card, address proof, bank passbook, mobile numbers, passport-size photo, and energy bill.
Subsidies, Bank Loans, and Interest on pm kusum yojana status :
Maximum Grant: Beneficiaries can receive up to Rs 78,000 as a grant, with additional amounts for specific capacities and usage.
State Bank of India (SBI): Offers a loan scheme for residential solar rooftop installations, with a maximum loan amount of Rs 10,000 and a repayment tenure of 5 years.
Union Bank of India (UBI): Provides loans for grid-connected RTS systems for independent homes, covering up to 80% of the cost or Rs 15,000, with a maximum repayment period of 84 months.
Canara Bank: Offers loans up to Rs 10 lakhs with a 20-year repayment term under its Housing-cum-Solar Loan Scheme, with an interest rate ranging from 11.00% to 12.50% per annum.
How to Apply for PM Surya Ghar Muft Bijli Yojana:
Visit the official website 'solarroofop.in' and click on 'apply for rooftop solar.'
Fill in your details and proceed to the next step.
Download the 'SANDES APP' (Android or iOS) and register using the provided QR code.
Authenticate your mobile number via OTP and verify your email address to complete the registration.
Log in using your registered customer account number and mobile number.
Subsidy eligibility is confirmed within 30 days after installation.
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