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Prime Minister Narendra Modi has declared that the plan to encourage individuals to put solar panels on their rooftops will be known as the 'PM Surya Ghar: Muft Bijli Yojana'. "We are introducing the PM Surya Ghar: Muft Bijli Yojana to promote sustainable development and people's well-being. "This project, which has an investment of more than ₹75,000 crores, aims to provide up to 300 units of free electricity every month, illuminating 1 crore households," he tweeted.
In another tweet, Modi said that the beneficiaries would receive subsidies through direct benefit transfer to their bank accounts along with concessional bank loans under the scheme. "From substantive subsidies, which will be given directly to people’s bank accounts, to heavily concessional bank loans, the Central Government will ensure that there is no cost burden on the people. All stakeholders will be integrated into a National Online Portal, which will further convenience," he said.
The prime minister said that to popularise the scheme at the grassroots, urban local bodies and panchayats will be incentivised to promote rooftop solar systems in their jurisdictions. He said the scheme would lead to more income, fewer power bills, and employment generation for people. "Let’s boost solar power and sustainable progress. I urge all residential consumers, especially youngsters, to strengthen the PM - Surya Ghar: Muft Bijli Yojana," he added.
Presenting the interim budget for FY25 on 1 February, union finance minister Nirmala Sitharaman had said that the 10 million beneficiaries of the new scheme would be able to get 300 units of free power through the rooftop solar installations, resulting in an annual saving of ₹15,000-18,0000 per year. Speaking to reporters on 2 February, Union Minister for New and Renewable Energy R.K. Singh said that the subsidy for rooftop solar installations would increase to about 60% under the new scheme from the current 40%.
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