What is PM-Surya Ghar Muft Bijli Yojana? Modi govt scheme offers 300 units free electricity per month
PM-Surya Ghar Muft Bijli Yojana (PM-SGMBY)
Launch Date: Announced on 13 February 2024 by Prime Minister Narendra Modi
Cabinet Approval: February 2024
Objectives:
- Install rooftop solar panels in 1 crore households across India.
- Provide free electricity up to 300 units per month per household.
- Promote green energy adoption and energy self-reliance.
- Support employment creation in solar manufacturing, logistics, installation, and operations (~17 lakh jobs).
Budget Allocation:
- Total: ₹75,021 crore
- Includes direct subsidies to consumers, innovative projects fund, and payment security for renewable energy service companies.
Subsidy Details:
- 1 kW system: ₹30,000
- 2 kW system: ₹60,000
- 3 kW or higher: ₹78,000
- District-level Model Solar Villages to promote solar adoption in rural areas.
Capacity Addition & Environmental Impact:
- 30 GW of solar capacity nationwide
- Expected CO₂ reduction: 720 million tonnes over 25 years
Loan & Payment Facility:
- Flexible loan options for upfront costs; as low as 10% upfront.
- Subsidy credited after commissioning, adjusted against the loan.
- Remaining amount can be repaid in 10 years through monthly installments.
Eligibility & Application:
- Must be a homeowner with a suitable roof
- Valid electricity connection required
- Should not have previously availed solar subsidies
- Registration via national rooftop solar portal: pmsuryaghar.gov.in
- Choose vendors from curated list approved by DISCOMs
Significance:
- Encourages decentralized solar adoption
- Aligns with India’s renewable energy goals
- Reduces household electricity bills by up to ₹15,000 annually
- Contributes to India’s energy self-reliance and green energy transition
Updated - January 07, 2025 ; 7:05 PM | https://www.moneycontrol.com/