PM Solar Rooftop Yojana, Benefits, Eligibility, Subsidy, Loans, Apply Online
On Tuesday, Prime Minister Narendra Modi launched the pm solar panel yojana registration, also known as PM Surya Ghar: Muft Bijli Yojana. The scheme, initially introduced in the Interim Budget 2024–2025 by Finance Minister Nirmala Sitharaman, boasts a total investment exceeding Rs 75,000 crores with the goal of aiding over one crore households on a monthly basis. Recipients of this initiative stand to receive up to 300 units of electricity at no cost, and those acquiring solar panels can benefit from a final subsidy based on the installation cost per kilowatt. Additionally, beneficiaries can secure loans from SBI, UBI, and Canara Bank. In this overview, we'll explore the various aspects of the pm solar rooftop yojana 2024 and guide you through the application process on solarroof.gov.in.PM Solar Rooftop Scheme Features:
- Grid Overloading Reduction: Especially during peak hours, this scheme aims to lessen the overloading of traditional grid stations.
- Rooftop Space Requirement: A rooftop area of 10 square meters is necessary for installing a 1 kW solar device.
- Additional Subsidy: There is an extra 20% subsidy available for installing solar panels with capacities between 4 and 10 kW.
- Cost Reduction: Installing solar panels can cut costs for offices and factories by approximately 30% to 50%.
- Warranty: Solar Power Panels typically come with a 25-year 80% performance warranty and a minimum 10-year product warranty.
- Investment Recovery: Indian solar panel buyers can recoup their investment in less than five to six years. The excess energy produced can be sold back to the grid.
PM Surya Ghar Yojana Benefits:
- Cost Savings: Adding solar rooftop panels can result in significant monthly savings on energy expenditures, ranging from Rs 15,000 to Rs 18,000 annually.
- Electric Vehicle Charging: The scheme supports the installation of charging stations for electric vehicles.
- Entrepreneurship Opportunities: Known as the "pm kusum yojana status ," it provides suppliers the chance to pursue their own businesses.
- Job Opportunities: The scheme creates more work possibilities for technical specialists in the production, installation, and upkeep of rooftop solar panels.
Eligibility Criteria for PM Solar Rooftop Scheme:
- For the installation of at least 1 KW of solar panels, there needs to be 10 sq meters of rooftop area.
- Identity proof for Indian citizens includes Aadhar cards, address evidence, bank passbooks, mobile numbers, passport-size photos, and energy bills.
Subsidies, Bank Loans, and Interest:
- A maximum subsidy of Rs 78,000 can be awarded to a beneficiary under this solar rooftop subsidy Yojana.
- For houses with solar panel capacity of up to 2KW and monthly Electricity Distribution Company consumption of less than 300 units, a subsidy of Rs 30,000 per kilowatt is offered.
- An extra Rs 18,000 per KW of subsidy is offered under the PM Surya Ghar Yojana scheme for capacities up to 3 KW.
Loan Programs by Banks:
- State Bank of India offers the "Roof Top Solar System Finance Scheme for residential purposes," providing loans up to Rs 10 lakh with a maximum five-year repayment period.
- Union Bank of India provides grid-connected RTS systems under their "Union RoofTop Solar Scheme," with a maximum of 84 EMI repayments and interest rates starting from External Benchmarks Lending Rate.
- Canara Bank offers a Housing_cum Solar Loan with a maximum repayment period of 20 years and a maximum loan amount of Rs 10 lakhs, eligible for on-grid construction of a rooftop solar PV system in conjunction with a house loan.
How to Apply for PM Surya Ghar Muft Bijli Yojana:
- Visit https://solarrooftop.gov.in/ and select "Apply for the Rooftop Solar."
- Register and input your information, then proceed to the next step.
- Download the SANDES APP from the Play Store (Android) or App Store (iOS) and utilize the received QR code to register for the rooftop solar scheme.
- Validate your email address after inputting the OTP obtained through mobile number authentication.
- Log in using the registered customer account number and mobile number. Subsidies can be claimed within 30 days of installation.
