Stories
Install Solar at Home with Rs. 900 EMI! Say Goodbye to Electricity Bill Worries!
- •Central government's 'PM Surya Ghar Muft Bijli Yojana' offers subsidies and low-interest loans.
- •For a 1 kW solar system, get a Rs. 30,000 subsidy with an EMI of Rs. 827 (10 years, 5.75% interest).
- •For a 2 kW solar system, receive a Rs. 60,000 subsidy with an EMI of Rs. 1,422 (10 years, 5.75% interest).
- •For a 3 kW solar system, a Rs. 78,000 subsidy is available with an EMI of Rs. 2,039 (10 years, 5.75% interest).
- •Invest in a solar system instead of paying electricity bills to gain long-term financial benefits.
Key Questions Answered
Under the PM Surya Ghar Muft Bijli Yojana, the central government provides substantial subsidies and collateral-free bank loans at a low interest rate of 5.75 percent per annum (repo rate plus 50 basis points) repayable over 10 years. Specifically, government subsidies of Rs. 30,000 for 1 kW, Rs. 60,000 for 2 kW, and up to Rs. 78,000 for 3 kW solar systems are credited directly to consumers' bank accounts.
For a 3 kW solar power system with a total cost of approximately Rs. 2,06,400, consumers must pay an initial upfront amount of about Rs. 20,640. The remaining balance can be financed through a bank loan with an estimated monthly installment (EMI) of around Rs. 2,039 over a 10-year period, which reduces to an actual net cost of approximately Rs. 1,28,400 after deducting the Rs. 78,000 government subsidy.
According to data from the Union Ministry of New and Renewable Energy as of September 24, 2026, the scheme has received 85,32,072 nationwide applications, with 49,39,882 systems successfully installed. These installations have benefited nearly 58.7 million families, achieved a power generation capacity of 17,339.41 megawatts, and involved a total central government subsidy disbursement of Rs. 32,807.12 crore.
