March 1, 2024: The Union Cabinet on February 29, 2024 approved instalation of rooftop solar under the PM-Surya Ghar: Mufti Bijli Yojna. “The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved PM-Surya Ghar: Muft Bijli Yojana with a total outlay of Rs 75,021 crore for installing rooftop solar and providing free electricity up to 300 units every month for one crore households,” an official statement said.
In a post on micro-blogging site X, PM Modi, said, “PM-Surya Ghar: Muft Bijli Yojana, which has been approved by the Cabinet, is going to be a game changer for bringing sustainable energy solutions to every home. Harnessing solar power, this initiative promises to light up lives without burdening pockets, ensuring a brighter, greener future for all.”
PM-Surya Ghar: Mufti Bijli Yojna: Benefits
- Households will be able to save electricity bills as well as earn additional income through sale of surplus power to DISCOMs. A 3 kW system will be able to generate more than 300 units a month on an average for a household.
- The proposed scheme will result in addition of 30 GW of solar capacity through rooftop solar in the residential sector, generating 1000 BUs of electricity and resulting in reduction of 720 million tonne of CO2equivalent emissions over the 25-year lifetime of rooftop systems.
- The scheme envisages to create around 17 lakh direct jobs in manufacturing, logistics, supply chain, sales, installation, O&M and other services.
- Central Financial Assistance (CFA) of 60% of system cost for 2 kW systems and 40% of additional system cost for systems between 2 to 3 kW capacity.
- The CFA will be capped at 3 kW. At current benchmark prices, this will mean Rs 30,000 subsidy for 1 kW system, Rs 60,000 for 2 kW systems and Rs 78,000 for 3 kW systems or higher.
- Households will be able to access collateral-free low-interest loan products of around 7% at present for installation of residential RTS systems up to 3 kW.
The PM-Surya Ghar: Mufti Bijli Yojna was launched by PM Modi on February 13, 2024. The households will apply for subsidy through the national portal https://pmsuryaghar.gov.in where they will be able to select a suitable vendor for installing rooftop solar. The national portal will assist the households in their decision-making process by providing relevant information such as appropriate system sizes, benefits calculator, vendor rating etc.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com
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