World’s largest domestic rooftop solar initiative, the PM Surya Ghar Muft Bijli Yojana (PMSGMBY) has achieved a historic milestone with 10 lakh homes now solar-powered as of March 10 this year. According to the Ministry of New and Renewable Energy, launched by Prime Minister Narendra Modi in February 2024, PMSGMBY has so far received over 47.3 lakh applications. The government has disbursed over Rs 4770 crore in subsidies to 6.13 lakh beneficiaries.
The scheme offers collateral-free loans of up to Rs 2 lakh at a marginal interest rate of 6.75 per cent through 12 public sector banks. So far over 3.10 lakh loan applications have been received by banks and over 1.58 lakh sanctioned. Loans under the scheme are disbursed to over 1.28 lakh applicants. It provides households with free electricity through the installation of subsidised rooftop solar panels significantly reducing their energy costs.
Households can apply for the subsidy through the national portal by choosing a suitable vendor for installing rooftop solar. The National Portal also assists in decision-making by providing information on appropriate system sizes, a benefits calculator, vendor ratings, and other relevant details.
With all credentials are entered correctly on the National Portal, within an average of 15 days of redemption request made by the consumer, proposals are approved and loans are sanctioned by the banks. Every solar installation under PMGMBY offsets carbon emissions equal to planting 100 trees.
The scheme has seen remarkable progress across several states. Notably, Chandigarh and Daman & Diu have achieved 100 per cent of their government-building rooftop solar targets, leading the nation in clean energy adoption.
States like Rajasthan, Maharashtra, Gujarat, and Tamil Nadu are also contributing significantly to the overall installation figures. The Government is actively monitoring the progress across all states to ensure the smooth and timely execution of the scheme, to reach 1 crore households by 2026-27.
Top 5 states with the highest number of households benefiting under the PM Surya Ghar Muft Bijli Yojana are Gujarat, Maharashtra, Rajasthan, Uttar Pradesh and Kerala.
