PM Surya Ghar Muft Bijli Yojana:?? A Game-Changer for India’s Energy and Economy

??On July 23rd, the Indian government launched the “PM Surya Ghar Muft Bijli Yojana,” a transformative initiative to provide free electricity to 1 crore households through rooftop solar installations. This scheme, offering up to 300 units of free electricity per month, has already seen an overwhelming response with over 1.28 crore registrations and 14 lakh applications.

Let’s explore the scheme’s economic implications and potential impact.

Key Features

1. Solar Power Installation: Rooftop solar panels will generate electricity, reducing household electricity bills.

2. Free Electricity: Up to 300 units of electricity per month are provided free of charge.

3. Cost Subsidy: Government subsidies reduce the installation cost, making solar power accessible.

4. Environmental Benefits: Promotes clean energy and reduces carbon emissions.

5. Collaborative Implementation: Central and state governments and private and public sector companies drive the initiative.

Economic Calculation and Impact

Installation Costs

? Average Cost: ?50,000 to ?1,00,000 per household.

? Government Subsidy: Assuming a 50% subsidy, the cost per household is ?25,000 to ?50,000.

? Total Expenditure: ?2,50,000 crores to ?5,00,000 crores for 1 crore households.

Economic Benefits

1. Electricity Bill Savings:

? Monthly Savings: ?1,500 to ?1,800 per household.

? Annual Savings: ?18,000 to ?21,600 per household.

2. Subsidy Reduction: Lower subsidy burden on state electricity boards and central budget.

3. Job Creation: Growth in the renewable energy sector, boosting employment.

4. Environmental Impact: Reduced carbon emissions contribute to climate goals and lower healthcare costs from improved air quality.

5. Energy Independence: Decreased reliance on imported fossil fuels enhances energy security and trade balance.

Easy Application process

• Interested households can apply online on the official website (pmsuryaghar.gov.in) by providing their state, electricity distribution company, and consumer number.
• After installation by a registered vendor, an inspecting officer will issue a commissioning certificate, and the subsidy will be credited to the applicant's bank account within 30 days.

By leveraging solar power, the scheme offers substantial financial relief to households and fosters a greener, more self-reliant India.

Disclaimer

The thoughts and opinions expressed in this article are personal and based on my research, intended for general informational purposes only. While I strive for accuracy and completeness, the information provided may not reflect the most current updates or changes to the PM Surya Ghar Muft Bijli Yojana. I do not guarantee any specific outcomes or benefits, as results may vary based on individual circumstances. Individuals should consult with authorized vendors or government officials for personalized guidance. I shall not be held responsible for any decisions made based on the information shared herein.