Rooftop Solar Subsidy Scheme Worth Rs 75,021 Cr Gets Cabinet Nod
The Cabinet on Thursday granted approval for the implementation of the PM-Surya Ghar Muft Bijli Yojana, aimed at facilitating the installation of rooftop solar systems in one crore households across the nation. This initiative comes with a significant budgetary allocation of Rs 75,021 crore.
The Prime Minister had officially launched the scheme on 13 February 2024. Under the scheme, households will receive vital financial assistance in the form of subsidies, making rooftop solar systems more accessible and affordable. Subsidies ranging from Rs 30,000 for 1 kW systems to Rs 78,000 for 3 kW systems or higher will be provided, easing the financial burden on individuals seeking to embrace solar energy.
To streamline the process, households can apply for subsidies through a national portal, empowering them to select suitable vendors for the installation of rooftop solar systems. Additionally, collateral-free, low-interest loan products are available to facilitate installation, with interest rates hovering around 7 per cent at present.
The initiative also includes the development of Model Solar Villages in each district, serving as exemplars for the successful implementation of rooftop solar systems in rural areas. This move is looking to promote wider adoption and acceptance of solar energy solutions in traditionally underserved communities.
Prime Minister Narendra Modi stressed on the scheme's relevance to direct subsidy disbursement, ensuring transparency and efficiency in the distribution process. Moreover, the establishment of a centralised National Online Portal will integrate all stakeholders, enhancing accessibility and convenience for participants in the scheme.
Urban local bodies and panchayats will receive incentives to drive the promotion of rooftop solar systems within their jurisdictions under this scheme.
