Going solar in 2024 has seen an incredible rise among residents and more commercial spaces to adopt solar panels for their power requirements. The ultimate proof of more people keen to adopt
solar panels in house roofs is now evident thanks to the “
Rooftop Solar Scheme” or the PM Surya Ghar Muft Bijli Yojana coming into effect.
The yojana was announced in the
Interim Budget 2024-25 and promises to allow 1 crore households to receive a whopping 300 units of power every month. This is a game-changing prospect for every individual, who is interested in going for solar power at this time.
With the announcement of the
solar rooftop scheme done by the union government, the focus would be to install 1 crore houses with solar panels at the earliest, and till now, over 1.28 crore Indians have already registered for this lucrative scheme. The government, today, aims to reach 50% of energy demands with the help of renewable sources by 2030 and reduce carbon emissions by 1 billion tonnes.
Top 5 Advantages of Rooftop Solar Scheme for Homeowners
With the conclusion of the Union Budget of 2024, the
future of solar energy in India has never been brighter. Let us check out the advantages of the
solar rooftop scheme in depth:
Bill saving potential
Arguably the most talked about aspect of going solar is reduced electricity bills and eventual savings. With this lucrative
Pradhan Mantri solar rooftop yojana, houses installing the panels would get an assured 300 units worth free of charge every single month. This is a huge discount considering the monthly usage case of many small houses is around the same margin. Households can save around INR 15,000-18,000 annually, depending on their energy consumption and constraints.
Economic benefit for youths
Economic opportunity is a topic that has been talked about and debated several times over the decades. One of the biggest plus points of the
solar rooftop scheme is its ability to further boost the
solar industry to the next level. With India sitting as the entrepreneurship hub of the world, the solar industry is on steady growth, offering countless job opportunities galore.
For instance, small vendors and manufacturers can brace up to start manufacturing components and solar panels today, with the growing demand for panels shooting up. In addition to this, youths can train in handling solar panels and hone their skills in the industry that is set to make a revolution across the country.
Net Metering advantage
If you have never heard about
net metering, this is a way of electricity bill metering where the consumers can send extra generated power back to the main power grid and earn monetary benefits out of it. With the
solar panel PM yojana, all the houses coming under the scheme would only come under the net metering scheme with the respective state DISCOM. Net metering has gained popularity over the years and most of the solar connections in major cities go for this type of metering.
Net metering assures houses benefit from the extra power generation from the panel and earn sufficient meter credits to reduce the monthly electricity bills even further.
Collateral-free, low-interest loans
Solar rooftop scheme covers yet another point where consumers opting can receive lucrative loan opportunities from registered banks for a bare minimum interest rate without having to put any collateral. Yes, with only 7% interest in the demand, residents can
install rooftop solar systems for up to 3 kW today and ensure no collaterals are exchanged.
Creation of model solar village for rural India
The
pm rooftop solar yojana has promised to initiate in developing a Model Solar Village for every district across the country. Under the scheme, one village per district would qualify for the scheme and go solar to meet their energy needs. A total of 800 crores of funds has been allocated with 1 crore per district per model solar village. The maximum population size of the village should be 5,000 (2,000 in special category states). Therefore, with the scheme, rural Indian villages could be self-reliant in generating solar power for their daily needs.
Solar subsidy
Under the
solar rooftop scheme, here are the subsidy details:
Conclusion
In the end, the
solar rooftop scheme has come up as a revelation to crores of Indians, who were sceptical about going solar. With the central-led subsidy and assurance, houses today can adapt to solar power and contribute to green energy sources.
