Top 5 Solar Panel Government Subsidies Available in India
As India moves towards a greener future, the government is encouraging people to adopt solar energy by offering various subsidies. These subsidies help reduce the cost of solar panel installations, making renewable energy more affordable for homes and businesses. If you are planning to install solar panels, here are the top 5 government subsidies available in India.
1. PM Surya Ghar Muft Bijli Yojana
The Pradhan Mantri Surya Ghar Muft Bijli Yojana is a new scheme announced by the Government of India to provide free electricity through solar power.
Key Features:
- Aims to install rooftop solar panels for 1 crore households.
- Offers subsidies up to 40% for solar panel installation.
- Households can generate up to 300 units of free electricity per month.
- Online application process through government portals.
Who Can Apply?
- Homeowners with space for solar panel installation.
- Those consuming up to 300 units of electricity per month.
2. Rooftop Solar Subsidy Scheme (MNRE)
The Ministry of New and Renewable Energy (MNRE) provides subsidies for rooftop solar installations across India.
Subsidy Details:
- 40% subsidy for solar systems up to 3 kW.
- 20% subsidy for systems between 3 kW and 10 kW.
- The scheme is implemented through state DISCOMs.
How to Apply?
- Apply via the National Portal for Rooftop Solar (solarrooftop.gov.in).
- Register with your electricity provider (DISCOM).
- Install solar panels and receive direct subsidy benefits.
3. KUSUM Yojana (PM-KUSUM)
The Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) scheme supports farmers in installing solar pumps and solar power plants.
Benefits for Farmers:
- 60% subsidy for solar-powered irrigation pumps.
- Additional 30% loan support for solar projects.
- Encourages solar power production on barren land.
Who Can Apply?
- Individual farmers or farmer groups.
- Those owning agricultural land.
4. State-Specific Solar Subsidy Schemes
Apart from central government schemes, many states offer additional solar panel subsidies.
Examples:
- Delhi: Provides up to Rs. 2 per watt subsidy.
- Madhya Pradesh: Offers extra Rs. 5,000 per kW incentive.
- Gujarat: Has a Suryashakti Kisan Yojana (SKY) for farmers.
How to Avail?
- Check with your state’s renewable energy department.
- Apply through state electricity boards.
5. Solar Loan Schemes by Banks
Several nationalized banks offer low-interest solar loans with government support.
Popular Solar Loan Providers:
- SBI Green Home Loan – Lower interest rates for solar panel installation.
- Bank of Baroda Solar Loan – Special loans for rooftop solar projects.
- NABARD Solar Loan – Provides financial assistance to farmers.
Who Can Benefit?
- Homeowners, businesses, and farmers looking for affordable solar financing.
Final Thoughts
Switching to solar energy is a great way to save on electricity bills and contribute to a cleaner environment. With government subsidies, installing solar panels has become more affordable than ever. If you are considering going solar, make sure to check these schemes and apply for subsidies that best suit your needs.
For more details, visit official government portals or contact your local electricity provider.
Frequently Asked Questions (FAQs)
1. Who is eligible for solar panel subsidies in India?
Anyone, including homeowners, farmers, and businesses, who meet the criteria specified by the government schemes, can apply for subsidies.
2. How much subsidy is available for rooftop solar installations?
The MNRE provides 40% subsidy for solar systems up to 3 kW and 20% subsidy for systems between 3 kW and 10 kW.
3. How can I apply for a solar subsidy in India?
You can apply through the National Portal for Rooftop Solar (solarrooftop.gov.in) or through your state’s electricity board.
4. What is the PM Surya Ghar Muft Bijli Yojana?
It is a scheme aimed at providing rooftop solar installations for 1 crore households, offering up to 40% subsidy and free electricity up to 300 units per month.
5. Can businesses apply for solar subsidies?
Yes, businesses can avail of solar loans and incentives under various government schemes, though direct subsidies are primarily for residential and agricultural users.