The Indian prime minister has unveiled the PM Surya Ghar Muft Bijli Yojana programme, aimed at providing free electricity through residential rooftop solar installations. With an investment exceeding Rs 750 billion, this programme seeks to provide electricity to 10 million households by offering a monthly allocation of up to 300 units of free power. The central government will provide significant subsidies which will be directly deposited into individuals’ bank accounts and provide highly concessional bank loans, ensuring no financial burden on the people. A National Online Portal will be established to seamlessly integrate all stakeholders for added convenience.
To promote the adoption of this programme at the grassroots level, urban local bodies and panchayats will receive incentives to encourage the installation of rooftop solar systems within their areas. Simultaneously, the programme is expected to result in increased income, reduced electricity expenses, and the generation of employment opportunities for the people. The programme provides a subsidy of Rs 30,000 per kW for up to 2 kW and additional Rs 18,000 per kW for capacity above 2 kW and up to 3 kW. The overall subsidy for systems exceeding 3 kW is limited to Rs 78,000.
Recently, in January 2024, the Indian prime minister unveiled a new initiative under the Pradhan Mantri Suryodaya Yojana, aiming to deploy rooftop solar systems for 10 million households throughout India. In the same month, REC Limited was designated as the main executor for the rooftop solar initiative by the Ministry of New and Renewable Energy.
