Mumbai, May 25: The PM Surya Ghar Scheme is a game-changer for those struggling with soaring electricity costs and frequent power outages. This initiative by the central government, known as the “PM Surya Ghar Free Electricity Scheme,” aims to ease the financial burden of high electricity bills by enabling households to generate their own power.
Under this scheme, the government provides substantial subsidies for installing solar panels on rooftops, potentially reducing monthly electricity bills to zero for up to 300 units. This not only helps mitigate the impact of power cuts but also significantly lowers monthly expenses.
Let’s delve into the subsidy structure based on household energy needs and installation costs.
Subsidy Breakdown Based on Kilowatt
The market price for solar panel installation ranges from ₹60,000 to ₹80,000 per kilowatt. However, enrolling in this scheme significantly reduces this cost:
– 1 kW setup: Suitable for small homes or low-energy households, with a subsidy of ₹30,000.
– 2 kW setup: Ideal for middle-class families, offering a direct subsidy of ₹60,000.
– 3 kW or larger setup: For larger homes or those using appliances like air conditioners, a maximum subsidy of ₹78,000 is available.
It’s important to note that even if you choose a system larger than 3 kW, the subsidy remains capped at ₹78,000.
Additional Benefits for Uttar Pradesh Residents
Residents of Uttar Pradesh can benefit from an extra subsidy of ₹30,000, in addition to the ₹78,000 provided by the central government. This means total savings can reach ₹108,000 for consumers in the state.
Cost-Effectiveness Over Time
Let’s analyze the costs and returns for a standard 3 kW solar system:
– Total Estimated Expense: ₹180,000
– Central Government Subsidy: ₹78,000
– Net Investment: ₹108,000
A 3 kW solar system can generate approximately 250 to 300 units monthly. With electricity costing around ₹8 per unit, you could save about ₹2,200 each month, amounting to ₹26,400 annually. Therefore, you can recover your investment in just over four years. For Uttar Pradesh residents, this payback period is even shorter, at three years. Given the lifespan of solar panels is 25 years, you could enjoy free electricity for the next 20 years after recouping your costs.
Step-by-Step Guide to Installing Solar Panels
This program is available for individuals with a permanent roof and an active electricity connection registered in their name. You can apply from home by following these six steps:
1. Visit the Portal: Go to the official website http://www.pmsuryaghar.gov.in. Register by entering your state, electricity provider (DISCOM), and consumer number.
2. Submit Form: Log in with your registered mobile number and fill out the online application for ‘Rooftop Solar’.
3. Install the Plant: After approval from your electricity provider, arrange for installation by selecting an approved vendor from the portal.
4. Apply for Net Metering: Once installed, upload vendor details and photos on the portal and apply for ‘Net Metering’.
5. Physical Verification: DISCOM officials will inspect your installation. If approved, a net meter will be installed, and a ‘Commissioning Certificate’ will be issued.
6. Receive Funds: Finally, upload your bank passbook or a canceled check. The full subsidy will be credited to your account within 30 days.
Affordable Financing Options
Don’t have a budget of ₹1 lakh? No worries. The government offers collateral-free loans in partnership with banks. With an interest rate of around 7%, just 0.5% above the RBI repo rate, the monthly EMI is manageable, allowing you to repay it easily through savings on your electricity bill.
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