Solar Power for All: PM’s Rooftop Solar Scheme Revolutionizes Energy Access
Rising electricity bills and environmental concerns are common worries for households. To address this, the PM Surya Ghar Muft Bijli Yojana (PM-SGBMY), also known as the Rooftop Solar Scheme, has emerged as a game-changer. This initiative allows homeowners to switch to clean, sustainable solar power with ease.
Introduced by Finance Minister Nirmala Sitharaman in the 2024-25 budget and launched by Prime Minister Narendra Modi, the scheme aims to install solar panels in one crore houses across India. The government provides significant subsidies directly to bank accounts and offers beneficial bank loans to make it financially viable.
Households consuming over 300 units per month or needing larger systems exceeding 3 KW can receive subsidies up to Rs. 78,000. The scheme offers Rs. 30,000 per KW for panels up to 2 KW and Rs. 18,000 per KW for panels up to 3 KW.
Moreover, households can access low-interest loans from banks without needing collateral. Interest rates, just 0.5% higher than the current repo rate, ensure affordability. Participating banks like State Bank of India, Central Bank of India, Punjab National Bank, Canara Bank, and Union Bank of India offer loans ranging from Rs. 2 lakh to Rs. 6 lakh.
Disbursements are made directly to vendors or EPC contractors upon completion of necessary feasibility assessments. For more information and a list of participating banks, individuals can visit the official PM Surya Ghar Muft Bijli Yojana website. This initiative not only promotes clean energy but also empowers citizens to contribute to environmental sustainability while cutting down on energy expenses.
