Outlook Money
PM Surya Ghar Muft Bijlee Yojana is a central scheme that aims to provide free electricity to 10 million households in India who opt to instal rooftop solar electricity units.
The households under this scheme will be eligible to avail of 300 units of electricity free every month.
The scheme provides a subsidy of 60 per cent of the solar unit cost for systems up to 2 kilowatts (kW) capacity and 40 per cent of the additional system cost for systems between 2kW and 3kW capacity.
The applicant should be an Indian citizen, must own a house with a roof that is suitable for the installation of solar panels, and the household should have a valid electricity connection.
Households can take collateral-free loans at a low rate of interest of 7 per cent to finance the installation of residential RTS systems up to 3kW capacity
To avail of the subsidy, one has to register on the portal and then select the State and the Electricity Distribution Company, and fill in details, such as electricity consumer number and email ID.
After the installation of the meter and inspection by the DISCOM, a commissioning certificate will be provided to the consumer. After getting the commissioning report, bank account details and a cancelled cheque will have to be submitted through the portal. The subsidy will be given back within 30 days
Compiled by Syed Muskan