Launched by Prime Minister Narendra Modi on February 15, 2024, the PM Surya Ghar: Muft Bijli Yojana aims to revolutionize India’s energy sector by providing free electricity through rooftop solar installations to one crore households by March 2027. As of December 2024, the scheme has already made impressive strides, with 6.3 lakh installations completed and a monthly installation rate of 70,000, ten times higher than the pre-scheme average.
The initiative offers significant subsidies to households, ranging from ₹30,000 to ₹78,000 based on their average monthly electricity consumption, making solar energy more affordable and accessible to millions. The program is expected to save the government ₹75,000 crores annually in electricity costs while significantly reducing the carbon footprint by promoting renewable energy use.
Key Features and Benefits
- Free Electricity for Households: Subsidized rooftop solar panels provide households with free electricity, slashing energy costs.
- Government Savings: The scheme will save the government ₹75,000 crore annually in electricity expenses.
- Environmental Impact: It will help reduce CO2 emissions by 720 million tonnes over 25 years, supporting India’s climate goals.
- Job Creation: Approximately 17 lakh direct jobs will be created in manufacturing, logistics, installation, and more.
The Model Solar Village initiative is another key component of the scheme, aiming to establish one solar-powered village per district. Villages selected for this initiative will receive ₹1 crore to help transition to solar energy and become energy self-reliant.
Subsidy and Financing Details
Households are eligible for collateral-free, low-interest loans at around 7% interest for rooftop solar installations up to 3 kW. The National Portal serves as the platform for households to apply for subsidies and select vendors for installation, making the process seamless.
The PM Surya Ghar: Muft Bijli Yojana is a transformative initiative set to deliver free solar power to millions of Indian households, significantly reducing their energy bills while contributing to India’s renewable energy goals. With projections to install 10 lakh systems by March 2025 and reach one crore by 2027, the program promises a greener, more energy-efficient future for the nation.
