the Prime Minister launched the ‘PM Surya Ghar Muft Bijli Yojana’ on 15 February 2024. Solar panels are installed in houses under this scheme to supply power to households and additional money for excess electricity output. The Central Government will provide substantive subsidies directly to people’s bank accounts and heavily concessional bank loans to ensure that there is no cost burden on the people. The government subsidy will cover up to 40% of the cost of installation of the solar panels.
This scheme will help poor and middle-class households save up to Rs. 15,000 to Rs. 18,000 crores annually by getting free solar electricity and selling surplus power to electricity distribution companies. Under this scheme, the government aims to install solar panels in one crore homes throughout the country. This scheme will help the government save around Rs. 75,000 crore per year for electricity costs.
Objectives of Rooftop Solar Yojana/PM Surya Ghar Muft Bijli Yojana
The Rooftop Solar Yojana, or the PM Surya Ghar Muft Bijli Yojana, aims to provide 300 units of free electricity every month to light up one crore households. The objective of this scheme is to reduce the electricity costs of the house by installing rooftop solar panels and using solar energy.
This scheme aims to decrease dependency on traditional energy sources by installing rooftop solar panels in houses and moving towards sustainable energy practices. It pushes for clean and sustainable energy.
Benefits of Rooftop Solar Scheme/PM Surya Ghar Muft Bijli Yojana
- Savings of up to Rs. 15,000 to Rs. 18,000 crores annually from free solar electricity and selling the surplus power to the distribution companies for charging electric vehicles
- Charging of electric vehicles
- Entrepreneurship opportunities for many vendors for the supply and installation of solar panels
- Employment opportunities for the youth with technical skills in the installation, manufacturing and maintenance of solar panels
- Reduction of electricity costs for the government.
- Increased use of renewable energy.
- Reduction in carbon emissions.
