Rooftop Solar Scheme: What Are The Benefits And Its Eligibility Criteria?

The 'PM-Surya Ghar: Muft Bijli Yojana' or the ‘Rooftop Solar Scheme’ kicked off on 13 Feb 2024, with a Rs 75,000-crore kitty. It aims to assist one crore households to set up rooftop solar units and contribute to green goals. This scheme aims to lower household electricity expenses by installing rooftop solar panels and using solar energy. It seeks to reduce reliance on traditional energy sources by installing these panels in houses and moving towards sustainable energy practices. It pushes for clean and sustainable energy.

“The Finance Minister, Nirmala Sitharaman, announced the launch of the ‘Rooftop Solar Scheme’ or the ‘PM Surya Ghar Muft Bijli Yojana’ in the 2024-25 budget. This scheme provides subsidies for installing rooftop solar panels for residential houses and using solar energy for electricity, which will help save money on electricity bills. This article covers everything about the Rooftop Solar Scheme or PM Surya Ghar Muft Bijli Yojana, according to a tax expert from Cleartax. Sitharaman, in the 2024-25 budget, introduced the 'Rooftop Solar Scheme' or 'PM Surya Ghar Muft Bijli Yojana.' This program offers subsidies for installing rooftop solar panels in homes, promoting the use of solar energy for electricity, which will help save money on electricity bills.

Also Read: Housing Credit Reaches A Record Rs 27.23 Lakh Crore In March 2024: RBI Data

What Are The Benefits For The Users:

• Annually, households can save around Rs 15,000 to Rs 18,000 crores from free solar electricity and selling surplus power to distribution companies for charging electric vehicles.

• Charging of electric vehicles

• Many vendors have opportunities to start entrepreneurship for the supply and installation of solar panels.

• Young people with technical skills can find employment opportunities in installing, manufacturing, and maintaining solar panels.

• The government saves electricity costs.

• There is more use of renewable energy.

• Less emission of carbon.

Who Are Eligible For This Scheme?

Applicants must live in India and should be from poor and middle-income households. They should have their own houses suitable for the installation of solar panels. They need to have a valid electricity connection and they should have applied for only this solar panel subsidy.

Any household can apply, but the subsidy is available for rooftop systems of up to three kilowatts (3,000 watts). You can apply at pmsuryagh.gov.in and the portal also helps calculate the right system size and its benefits.

To qualify for the subsidy, households must use solar panels made in India and get the system installed by a government-empanelled vendor (as listed on the portal) to be eligible for subsidy. Also, if you want the subsidy, battery storage is not allowed.