New Delhi, Feb 29 (PTI) The government on Thursday approved a rooftop solar scheme, PM-Surya Ghar: Mufti Bijli Yojna, with an outlay of Rs 75,021 crore, to provide up to Rs 78,000 subsidy for the installation of solar plants and 300 units free power for one crore households.

Briefing media after the Union Cabinet meeting, Information and Broadcasting Minister Anurag Thakur informed that approval has been given for the scheme for installing rooftop solar and providing free electricity up to 300 units every month for one crore households.

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"The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved PM-Surya Ghar: Muft Bijli Yojana with a total outlay of Rs 75,021 crore for installing rooftop solar and providing free electricity up to 300 units every month for one crore households," an official statement said.

Prime Minister Narendra Modi launched the scheme on February 13, 2024.

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In a post on X, Modi said, "PM-Surya Ghar: Muft Bijli Yojana, which has been approved by the Cabinet, is going to be a game changer for bringing sustainable energy solutions to every home."

"Harnessing solar power, this initiative promises to light up lives without burdening pockets, ensuring a brighter, greener future for all," the prime minister said.

The scheme provides a central financial assistance (CFA) of 60 per cent of system cost for 2 kW systems and 40 per cent of additional system cost for systems between 2 kW to 3 kW capacity. The CFA will be capped at 3 kW.

At current benchmark prices, this will mean Rs 30,000 subsidy for 1 kW system, Rs 60,000 for 2 kW systems and Rs 78,000 for 3 kW systems or higher.

The households will apply for subsidy through the National Portal and will be able to select a suitable vendor for installing rooftop solar.

The National Portal will assist the households in their decision-making process by providing relevant information such as appropriate system sizes, benefits calculator, vendor rating etc.

Households will be able to access collateral-free low-interest loan products of around 7 per cent at present for installation of residential RTS (rooftop solar) systems up to 3 kW.

Other Features of the scheme include a Model Solar Village to be developed in each district to act as a role model for the adoption of rooftop solar in rural areas.

Besides, Urban Local Bodies and Panchayati Raj Institutions shall also benefit from incentives for promoting rooftop solar (RTS) installations in their areas.

The scheme provides a component for payment security for renewable energy service company (RESCO) based models as well as a fund for innovative projects in RTS.

Through this scheme, the households will be able to save electricity bills as well as earn additional income through the sale of surplus power to DISCOMs. A 3 kW system will be able to generate more than 300 units a month on average for a household.

The proposed scheme will result in the addition of 30 GW of solar capacity through rooftop solar in the residential sector, generating 1000 BUs (billion units) of electricity and resulting in a reduction of 720 million tonnes of CO2 equivalent emissions over the 25-year lifetime of rooftop systems.

It is estimated that the scheme will create around 17 lakh direct jobs in manufacturing, logistics, supply chain, sales, installation, O&M and other services.

For availing benefits of PM-Surya Ghar: Muft Bijli Yojana by households, the Government has launched a massive campaign since the launch of the scheme for raising awareness and generating applications from interested households.

Households can register themselves on https://pmsuryaghar.gov.in to avail of benefits under the scheme.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)