Prime Minister Narendra Modi has unveiled a new scheme named 'PM Surya Ghar: Muft Bijli Yojana' to incentivize individuals to install solar panels on their rooftops. The scheme, valued at over ₹75,000 crore, aims to illuminate one crore households by offering up to 300 units of complimentary electricity every month.
The prime minister stated that beneficiaries of the scheme would receive substantial subsidies, which would be directly transferred to their bank accounts.
He said that “the Central Government will ensure that there is no cost burden on the people, offering substantive subsidies directly deposited into their bank accounts and heavily concessional bank loans.”
Modi further stated, "All stakeholders will be integrated into a National Online Portal to enhance convenience." Additionally, he mentioned that urban local bodies and panchayats would receive incentives to promote rooftop solar systems within their jurisdictions, aiming to popularize the scheme at the grassroots level.
Moreover, he highlighted that the scheme would result in increased income, reduced power bills, and the generation of employment opportunities for the people.
Modi said, "Let's boost solar power and sustainable progress. I urge all residential consumers, especially youngsters, to strengthen the PM - Surya Ghar: Muft Bijli Yojana by applying at -- https://pmsuryaghar.gov.in."
"Under rooftop installation, solar photovoltaic (PV) panels are fixed atop a building, home, or a residential property."
Union Finance Minister Nirmala Sitharaman announced the scheme to install solar panels during the interim budget for 2024-25. She stated that the rooftop solar initiative, designed to incentivize the purchase of solar installations and encourage energy feed-back to the grid, could potentially lead to annual savings of ₹15,000.
The allocation for solar (grid) in the fiscal year 2024-25 amounts to ₹10,000 crore, a significant increase from the ₹4,970 crore allocated in 2023-24. Similarly, ₹930 crore has been allocated for wind power (grid), compared to the ₹1,214 crore allocated in the previous fiscal year.
Image source: Hindustan Times