pm free solar panel yojana 2023
Are you tired of paying exorbitant electricity bills every month? Are you concerned about the impact of conventional energy sources on the environment? If yes, then we have some exciting news for you! The Indian government has launched a revolutionary scheme - PM Free Solar Panel Yojana 2023. This initiative aims to provide free solar panels to households across India by 2023. Yes, you read that right - FREE. In this blog post, we will delve into the details of this game-changing scheme and how it can benefit you and our planet as a whole. So, let's get started!
pm free solar panel yojana 2023
The Prime Minister, Shri Narendra Modi, has announced the launch of the ‘PM-Free Solar Panel Yojana’. The scheme will provide Rs. 1 crore per annum to each household to install solar panels. Under this scheme, households with an annual income of up to Rs. 6 lacks will be eligible for assistance. This will help them save money on electricity bills and contribute towards overall energy security in the country
The target is to achieve 20% installed capacity of solar panels by 2022 under the PM-Free Solar Panel Yojana. In comparison, India has a mere 3% solar panel penetration as of 2016. This initiative aims to spur domestic investment in the solar sector and create jobs in the downstream industry.
This scheme will also promote the use of renewable energy sources such as wind and solar power in rural areas which have been traditionally dependent on biomass fuel sources such as wood and dung for cooking and heating purposes.
What is pm free solar panel yojana?
The Prime Minister’s ‘PM-Free Solar Yojana’ is an ambitious scheme to make solar energy affordable for all. Under the scheme, households and small businesses can get a rebate on their solar panels of up to Rs 300,000. The government is also offering free land and connections to the grid, making solar power even more accessible.
The PM-Free Solar Yojana is a key part of India’s stated goal of becoming a global leader in renewable energy by 2030. In addition to being good for the environment, this will create jobs and foster innovation in the sector.
So far, over 1 million households and small businesses have registered for the scheme. This shows just how much interest there is in renewable energy in India – and how easy it is to take advantage of this initiative.
How does the pm-free solar panel yojana work?
Under the Pradhan Mantri Solar Park Mission, the Government of India is offering a subsidy to help households, businesses, and other institutions install solar energy systems. This pm free solar panel yojana will provide financial assistance for the installation of rooftop solar power systems up to 100 kW in size. Eligible applicants can get a loan from government-sponsored banks, with an interest rate that is fixed at 3%. In addition to this subsidy, applicants will also receive a matching grant from the government.
Solar energy is one of the most environmentally friendly forms of electricity generation, and it is becoming increasingly popular in India due to its low cost and a high potential for providing clean electricity. The pm free solar panel yojana will help increase access to solar power across India, and it will also help reduce India's dependence on coal-fired power plants.
Who benefits from pm free solar panel yojana?
The pm free solar panel Yojana is meant for the common man and women of India. It offers a subsidy on the purchase of a solar panel worth Rs. 1 lakhs or less. This will help people save money on their electricity bills and reduce their carbon footprint. In addition, it will help promote renewable energy in the country. The Government of India has stated that it aims to install more than 20 gigawatts (GW) of solar power by 2022 through this scheme. This is expected to create over 1 million jobs in the process.
How to apply for pm free solar panel yojana?
The Ministry of New and Renewable Energy, Piyush Goyal had announced that the government will provide a subsidy of Rs.1 lakh per unit for the installation of solar panels in homes and other buildings up to 20 KW capacity. The scheme is called ‘PM Free Solar Panel Yojana’.
Under this scheme, eligible persons can get a subsidy of Rs.1 lakh on the purchase and installation of a solar panel system with up to 20 KW capacity. Eligibility criteria include owning or occupying the residential property with an annual floor area not exceeding 500 sqft or an establishment with an annual turnover not exceeding Rs 25 crore or having a self-consumption of more than 50% in power. The scheme is open to both domestic and foreign investors. Solar systems installed under this scheme must be connected to the national grid.
To avail of this subsidy, interested persons should first fill out an application form online on the ministry’s website www.mnRE.gov.in/. After filling in the form, individuals will be required to submit relevant documents such as a passport copy, Permanent Account Number (PAN), proof of residence, etc.
Once all documents are verified, claimants will receive an acknowledgment letter from the ministry stating whether their application has been accepted or rejected. If accepted, claimants will have to pay an upfront registration fee of Rs 1,000 and then make installment payments over a period of 12 months with an interest-free facility available from SBI bank after approval from a lender
What are the eligibility criteria for pm free solar panel yojana?
The Prime Minister’s ‘PM Free Solar Panel Yojana’ scheme provides a subsidy of Rs.1 lakh per household for the installation of solar panels. The eligibility criteria for this scheme are as follows:
-The household must have an annual income of less than Rs.5 lakh; and
-The household must not be using any other form of energy for lighting, cooking or cooling.
Households that meet these criteria are eligible to apply for the subsidy, which is available in two installments – an upfront grant of Rs.50,000 and a final payment of Rs.1 lakh. Additionally, households that install solar panels through the PM Free Solar Panel Yojana will also receive a host of other benefits, such as reduced electricity rates and access to modern technologies such as smart meters.
What are the benefits of pm free solar panel yojana?
The PM free solar panel yojana is a government scheme that will provide financial assistance to those who install solar panels. The scheme is available to both individuals and small businesses.
The main benefits of the scheme are that it will save people money on their energy bills, and it will help reduce emissions. Solar panels are an effective way of reducing your carbon footprint, and they also create jobs in the renewable energy sector.
People who install solar panels under the PM free solar panel yojana will receive a subsidy of Rs 5,000 per unit. This subsidy is available for a period of ten years, and it can be extended if the panels are still in use. In addition, installation costs borne by the government are waived for those who qualify for the scheme.
Solar panel users who meet certain eligibility criteria will also be able to claim tax relief on their investment in solar panels. This relief is available as a deduction from your taxable income, and it can amount to up to 30% of your total investment in solar panels.
Conclusion
PM free solar panel yojana 2023: India is all set to get the best of both worlds with this ambitious scheme. With the aim of providing cheaper electricity to its citizens, the government has formulated a plan that involves the installation of PM-free solar panels across the country. The project will be funded by a special cess levied on electric vehicles, and it is hoped that this step will go a long way in ushering in an energy revolution.
FAQs
1. What is the pm free solar panel yojana?
The pm free solar panel yojana is a government-backed scheme under which people can buy solar panels and get a subsidy on the total cost of the purchase. The scheme was launched in July 2016 and will run until March 2019.
So far, around 6 crore households have registered for the scheme. Under this scheme, people can purchase solar panels worth up to Rs 30,000 without any upfront cost. After registering for the scheme, people need to visit a designated website or portal to obtain their installation kit and register for a bank account with which they can receive subsidy payments.
2. How much money can I save under the pm free solar panel yojana?
Under the scheme, households can save up to Rs 7,500 on their total solar panel purchase. This amount will vary depending on the size of the panel and the location of installation. Plus, people can also avail of other benefits like cashback from banks and insurance coverage from Solar India Ltd (SIL).
3. Is there any age limit for participating in the pm free solar panel yojana?
There is no age restriction for participating in the scheme. Everyone can sign up if they want to install solar panels in their homes. However, children below 18 years cannot own or operate a motor vehicle nor do they need permission from their parents to participate in this program. Moreover, people who are not citizens of India