How You Can Claim Loan Subsidy Under PM Modi's Solar Rooftop Scheme

About two weeks after Finance Minister Nirmala Sitharaman¡¯s interim budget 2024 speech mentioned about the rooftop solar power scheme, PM Modi has announced the launch of PM Surya Ghar: Muft Bijli Yojana.

PM Modi Launches Solar Rooftop Scheme

In order to further sustainable development and people¡¯s wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs. 75,000 crores, aims to light up 1 crore households by providing up to 300 units of free electricity every month.

¡ª Narendra Modi (@narendramodi) February 13, 2024

¡°In order to further sustainable development and people¡¯s wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs. 75,000 crores, aims to light up 1 crore households by providing up to 300 units of free electricity every month¡±, PM Modi tweeted on February 13th.

In order to popularise this scheme at the grassroots, Urban Local Bodies and Panchayats shall be incentivised to promote rooftop solar systems in their jurisdictions. At the same time, the scheme will lead to more income, lesser power bills and employment generation for people. Let¡¯s boost solar power and sustainable progress. I urge all residential consumers, especially youngsters, to strengthen the PM - Surya Ghar: Muft Bijli Yojana.

Click here to know more about the scheme.

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Subsidy Under PM Surya Ghar Scheme

PM ¨C Surya Ghar: Muft Bijli Yojana Subsidy for residential households:

Rs. 30,000/- per kW up to 2 kW

Rs. 18,000/- per kW for additional capacity up to 3 kW

Total Subsidy for systems larger than 3 kW capped at Rs 78,000

Suitable Rooftop Solar Plant Capacity for households Average Monthly Electricity

For Consumption (units) of 0-150 and Suitable Rooftop Solar Plant Capacity of 1 ¨C 2 kW, Rs 30,000 to Rs 60,000 Subsidy Support can be claimed.

For Consumption (units) of 150-300 and Suitable Rooftop Solar Plant Capacity of 2 ¨C 3 kW, Rs 60,000 to Rs 78,000 Subsidy Support can be claimed.

For Consumption (units) of above 300 and Suitable Rooftop Solar Plant Capacity of above 3 kW, Rs 78,000 Subsidy Support can be claimed.

Online Applications may be submitted on the National Portal at https://pmsuryaghar.gov.in

To understand solar rooftop system better, you can click here.

List Of Banks Offering Loan Subsidy On Rooftop Scheme

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State Bank Of India

Canara Bank

Union Bank Of India

HDFC Bank

IDBI Bank

Punjab National Bank

ICICI Bank

Bank Of Maharashtra

UCO Bank

Saraswat Bank

Karnataka Bank

Bank Of Baroda

Besides these banks, some other lenders too are offering subsidy loans under the pmsuryaghar scheme, including:

Electronica Finance Limited

Mysun

Ecofy

CreditFair

Metafin Cleantech

PayTM

How to apply for solar panel under the scheme

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Here's how you can apply for a rooftop solar panel under the PM Surya Ghar: Muft Bijli Yojana, as per its official website.

Step 1

Register in the portal with the following

Select your State

Select your Electricity Distribution Company

Enter your Electricity Consumer Number

Enter Mobile Number

Enter Email

Please follow as per the direction from the portal.

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Step 2

Login with Consumer Number & Mobile Number.

Apply for the Rooftop Solar as per the form.

Step 3

Wait for the feasibility approval from DISCOM. Once you get the feasibility approval install the plant by any of the registered vendors in your DISCOM.

Step 4

Once installation is over , submit the plant details and apply for net meter.

Step 5

After installation of net meter and inspection by DISCOM, they will generate commissioning certificate from portal.

Step 6

Once you get the commissioning report. Submit the bank account details and a cancelled cheque through the portal. You will receive your subsidy in your bank account within 30 days.

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