PM Surya Ghar Scheme: Making Solar Affordable for Indian Homes

Reduce electricity bill for Your Home with the PM Surya Ghar Scheme. Image source: https://www.pmsuryaghar.gov.in/

India’s renewable energy landscape has received a significant boost with the introduction of the PM Surya Ghar Muft Bijli Yojana. Launched in 2024, this ambitious initiative by the Government of India aims to empower residential consumers with affordable solar solutions, providing them with a pathway to energy independence and substantial financial savings. The scheme is tailored to benefit homeowners by making rooftop solar installations more accessible, offering subsidies and incentives that make solar adoption a no-brainer.

What is the PM Surya Ghar Scheme?

The PM Surya Ghar Scheme focuses on encouraging homeowners in India to install rooftop solar panels, helping them generate clean, renewable electricity while reducing their dependence on the grid. With an approved budget of ₹75,021 crores, the scheme targets the installation of solar systems in one crore households across India. Key features include:

• Subsidized Costs: The scheme offers a subsidy of Rs 30,000 per kW for solar systems up to 2 kW and Rs 18,000 per kW for additional capacity up to 3 kW. This translates to subsidies of up to ₹78,000 for a 3 kW solar panel system.
• For Group Housing Society / Resident Welfare Association (GHS / RWA), a subsidy of Rs 18,000 per kW for common facilities, including EV charging, up to 500 kW capacity ( at 3 kw per house) with the upper limit being inclusive of individual rooftop plants installed by individual residents in the GHS/RWA.

The Cost and Benefits of Installing Solar Panels Under This Scheme

Installing a 3 kW solar panel system under the PM Surya Ghar scheme offers both short-term and long-term advantages. Let’s break down the costs and savings:

1. Upfront Costs: After subsidies, the cost of a 3 kW solar panel system can range from ₹1,32,000 to ₹1,52,000, depending on the selected equipment.
2. Savings on Bills: Generating approximately 350 units of electricity per month, such a system can save homeowners ₹30,000 or more annually in electricity costs.