On Tuesday, Prime Minister Narendra Modi announced the pm solar panel yojana registration, which is also known as the PM Surya Ghar Muft Bijli Yojana. It was first announced by Hon'ble Finance Minister Nirmala S. Sitharaman in the Interim Budget for the financial News year 2024-25. This scheme is expected to help more than 1 crore households each month and the total investment in this scheme is more than Rs 75000 crores. This scheme will provide free electricity to its beneficiaries up to 300 units per month. In addition, on purchasing solar panels, a final subsidy will be given to consumers based on the per kilowatt installation. Beneficiaries of this scheme can avail loan amounts from State Bank of India (SBI), Union Bank of India (UBI) and Canara Bank among others. Let's now take a look at the various aspects of this Solar roof Yojana and apply on Solar Roof Gov in India.
PM Solar Rooftop Scheme Features
pm solar rooftop scheme can reduce the overloading of the conventional grid stations, particularly during peak hours.
10 square meters of rooftop space is required to install 1 Kilowatt of solar gadgets under this scheme.
20% Subsidy for installing Solar Panels from 4 Kilowatts to 10 Kilowatts.
Installing Solar Panels can reduce bills by about 30% to 50%.
For offices and factories, solar power panels come with a minimum warranty of 10 years and above 25 years warranty of 80%.
Solar Power Panels are a safe and robust investment for the consumer.
The product comes with at least 25 years performance warranty / guarantee.
For an Indian consumer, Solar Panels will recover their investment within 5-6 years.
The excess energy generated after the installation can be sold to the grid.
You can self-deploy your solar panels or deploy a developer to take care of your investment.
Rooftop Solar Scheme/PM Surya Ghar Yojana Benefits
Households can save up to 15,000-18,000 per annum on their monthly energy bills with the installation of solar roof panels.
The PM Solar Scheme (pm kusum yojana status) is also known as the ‘Suryodaya’ Scheme.
The scheme provides entrepreneurship opportunities to the vendors.
The scheme also offers additional job opportunities to technical experts in installation, maintenance, and manufacturing of roof panels.
Eligibility Criteria
Rooftop space of 10 sq meters or more
At least 1 kW of solar panels must be installed
Identity Card (Aadhar Card)
Address Proof
Bank Passbook
Mobile Numbers
Passport Size Photo
Energy Bill
Subsidies, Bank Loans and Interest on PM Surya Ghar Yojana
Under this scheme, the beneficiary can get a maximum of Rs 78,000 as a grant. For households using less than 300 UAH per month and having a capacity of 2KW or more solar panels, the grant amount is Rs 30,00 per kWh. For a capacity of 3 KW or more, an additional grant amount of Rs 18,00 per KW is being provided under the PMS Yojana.
State Bank of India (SBI) offers loan scheme for Solar Roof Top for residential purposes. The loan amount is Rs 10,000 with a maximum repayment tenure of 5 years.
Union Bank of India (UBI) offers grid connected RTS systems for independent homes with capacity of 25 KW or more. The loan amount can be up to 80 percent of the cost, or up to Rs 15,000. The maximum EMI repayment is 84, and the interest rate is starting from EBLR +2.10 percent.
Canara Bank also provides a loan of up to 10 Lakhs with a repayment term of 20 Years under its Housing-cum Solar Loan Scheme. Canara Bank’s Solar Loan Scheme for On-Rooftop Installation of a Rooftop Solar PV System along with a Housing Loan. The Interest Rate ranges from 11.00% to 12.50% per annum.
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