PM Suryoday Yojana 2024: How free electricity scheme can help you save Rs 15,000; know about more benefits

PM Suryoday Yojana 2024: The Union Cabinet on Thursday approved the PM-Surya Ghar: Free Electricity Scheme (PM-Surya Ghar Muft Bijli Yojana). The scheme which is aimed at providing financial assistance to 1 crore houses for installing roof top solar panels will cost Rs 75,021 crore to the central government. Under the scheme, one crore houses will get subsidies to install solar plants on their rooftops. After the Union Cabinet meeting, Information and Broadcasting Minister Anurag Thakur said that the plan to install solar plants on rooftops and provide 300 units of free electricity per family every month to one crore families has been approved. The minister said that every family will get a subsidy of Rs 30,000 for a plant of one kilowatt capacity and Rs 60,000 for a plant of two kilowatt capacity.

PM Suryoday Yojana 2024: How to apply?

For those families who want to take advantage of PM Suryoday Yojana 2024, they have to apply through the national portal, https://pmsuryaghar.gov.in/.

By applying on this portal, they will be able to select the vendor and rooftop solar as per their choice and convenience.

After the installation of rooftop solar by the vendor, the net metering of DISCOMs will be installed and its proof will be uploaded on the portal, after which, the subsidy amount will be transferred directly to the customer's bank account.

The government has said that the remaining cost of rooftop solar panels would also be available to the beneficiaries of the scheme through the portal in the form of loan at affordable interest rates from banks.

Banks will not charge interest more than 0.5 per cent above the repo rate.

PM Suryoday Yojana 2024: How to save Rs 15,000 annually

Under this scheme, even if the beneficiaries pay the loan installment every month from the savings in electricity bills, they will still save money.

For example, if a consumer consuming 300 units of electricity installs a 3 kW rooftop solar plant, they will get the entire electricity free, and will not have to pay the electricity bill of around Rs 1875 every month.

Out of this savings, even after paying an EMI of about Rs 610, an amount of about Rs 1265 will be left, that is, more than Rs 15,000 will be saved every year.

PM Suryoday Yojana 2024: RWAs to be given subsidy

RWA/Group Housing Societies will also be given a subsidy of Rs 18,000 per KW for rooftop solar plants up to 500 KW for common area lighting, EV charging, etc.

PM Suryoday Yojana 2024: Saliant Features 

• Rooftop solar panels will be installed on 1 crore houses
• 300 units of free electricity will be given
• 60 per cent subsidy will be available up to 2 kilowatts
• Loans for rooftop solar will be available at affordable interest rates
• For this, only 0.5 per cent interest rate will be kept above the repo rate
• A subsidy of Rs 18000 per kilowatt for 500 kilowatts will be available for EV and housing society