PM Solar Rooftop Yojana, Benefits, Eligibility, Subsidy, Loans, Apply Online
Pm solar panel yojana registration, also known as PM Surya ghar Muft bijli yojana, was launched on Tuesday by Prime Minister Narendra Modi through the Interim Budget 2024–25. The Interim Budget 2022–23 was tabled by Hon’ble Finance Minister, NirmalaS. Sitharaman. The scheme is expected to benefit over 1 crore households every month. The total investment for this scheme is over Rs 75000 crore. The pm kusum yojana status will provide free Electricity Distribution Company upto 300 units per month to its beneficiaries. Moreover, upon purchase of solar panels, consumers will receive a final subsidy based on the per kWh installation. The beneficiaries of this scheme will be able to avail loan amounts from SBI, UBI and Canara Bank. Let’s now look at the different aspects of this solar roof yojana and apply for solar roof Gov in India.
PM Solar Rooftop Scheme Features
pm solar rooftop scheme helps in reducing the overloading of conventional grid stations, especially during peak hours. To install 1 kilowatt of solar gadget on your rooftop, you need 10 square meters of space. Subsidy is 20% for installing solar panels from 4 kilowatts to 10 kilowatts. Solar panels can reduce your bills by around 30–50%. For offices and factories, Solar Power Panels come with minimum 10-year warranty and maximum 25-year warranty. Solar Power Panels are safe and robust investments for the consumer. They come with at least 25-year performance warranty/guarantee. For an Indian consumer, the Solar Panels will return their investment within 5 to 6 years. The excess energy generated after installation can be sold back to the grid. You can install your solar panels yourself or hire a developer to manage your investment.
Rooftop Solar Scheme/PM Surya Ghar Yojana Benefits
pm solar rooftop yojana 2024 Scheme is also known as ‘Suryodaya’ Scheme. Solar roof panels can help households save up to 15000–18000 per month on their energy bills. The scheme offers entrepreneurship opportunities for the vendors. It also provides additional job opportunities for technical experts in installing, maintaining, and manufacturing roof panels.
Eligibility criteria
Roof space of 10 square meters or more
Installation of at least 1 kilowatt of solar panels
Aadhar Card
Address proof
Bank passbook
Mobile numbers
Passport size photo
Energy Bill
Subsidies, Bank Loans and Interest on PM Surya Ghar Yojana
The maximum grant amount under this scheme is Rs 78000. Under this scheme, if a household consumes less than 300 uAH per month, and has a solar panel capacity of 2 kW or more, the amount of the grant is Rs 30.00 per kWh, and if the capacity is 3 kW or more, then the amount of the additional grant is Rs 18.00 per kW.
SBI Solar Roof Top Loan Scheme
SBI offers a loan scheme for solar Roof Top Solar System for residential use. The amount of the loan is Rs 10.00. The maximum repayment tenure is 5 years.
UBI Solar Roof Top Scheme
UBI offers a solar roof top loan scheme for independent home with a capacity of 25 kW or more. Up to 80% of the cost of the system can be loaned to the beneficiary. The total amount of the loan can be as low as Rs 15.00. Maximum EMI repayments are 84. The interest rate under this scheme is EBLR+2.10%.
In addition, Canara Bank also offers a loan up to 10 lakhs with a term of 20 years under its housing-cum solar loan scheme. Canara bank’s solar loan scheme for on-roof installation of a rooftop solar photovoltaic system along with a housing loan has an interest rate of 11.00%, 12.50%, and 13.00%, respectively.
How to apply for PM Surya Ghar Muft Bijli Yojana?
To apply PM Solar ROOftop Scheme please visit the official website PM Surya Ghar Muft Bijli Yojana.IN and click on ‘apply for rooftop solar’ and register. You will need to complete your details and click on ‘next’.
To register for the Scheme, you must download the SANDES APP for Android or IOS. You can use the QR Code provided to register.
To register, you must provide your OTP, which stands for Enter Your Phone Number.
You will also need to confirm your email address.
You can log in by providing your mobile number and entering the number of the registered customer account.
Once you have registered, you will be eligible to apply for Subsidy. Subsidy will be provided to you within 30 days of installation.