PM Surya Ghar Muft Bijli Yojana: Can you apply? FAQs on eligibility, application process and other details answered | India Business News
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Who is eligible for PM Surya Ghar Muft Bijli Yojana?
As per the Press Information Bureau (PIB) release dated March 1, individuals must meet the following criteria to apply for the PM Surya Ghar Muft Bijli Yojana:
- Indian citizenship.
- Ownership of a house with a suitable roof for solar panel installation.
- Possession of a valid electricity connection.
- Absence of prior subsidies for solar panels.
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Procedure for availing subsidy
The process to avail subsidy under this scheme involves the following steps:
- Register on the portal, providing necessary details such as state, electricity distribution company, consumer number, mobile number, and email.
- Log in with the consumer number and mobile number, and apply for rooftop solar as per the form provided.
- Upon feasibility approval, get the solar panel installed by any registered vendor.
- After installation, submit plant details and apply for a net metre.
- Once the net metre is installed and inspected by
DISCOM , a commissioning certificate will be generated. - Submit bank account details and a cancelled cheque through the portal to receive the subsidy within 30 days.
How to apply
Interested homeowners should start by registering on the national website, pmsuryaghar.gov.in.They can then choose their preferred manufacturer and supplier for the rooftop solar system. The National Portal provides useful information like vendor ratings, benefits calculators, and appropriate system sizes, benefiting households in making informed decisions.
Functioning of PM Surya Ghar Muft Bijli Yojana
According to the PIB release, the scheme offers a subsidy covering 60% of the solar unit cost for systems up to 2 kW capacity and 40% for additional system costs for systems between 2 to 3 kW capacity. The subsidy is capped at 3 kW capacity. This translates to a subsidy of Rs 30,000 for a 1 kW system, Rs 60,000 for a 2 kW system, and Rs 78,000 for a 3 kW system or higher, based on current benchmark prices.
Loan facility
Households can access low-interest credit options with no need for collateral, featuring interest rates as low as 7% for installing home RTS systems up to 3 kW. The interest rate is set at a 0.5% premium above the current repo rate, periodically determined by the Reserve Bank of India. If the Repo Rate decreases from the current 6.5% to 5.5%, consumers’ effective interest rate will drop from 7% to 6%.
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