New Delhi: In a significant move towards sustainability and cost savings, the Government of India has introduced the “Pradhan Mantri Kusum Yojana” scheme, aiming to provide free solar panel installation on the rooftops of both rural and urban households. This initiative is set to benefit both farmers and domestic consumers.
Under the scheme, the government will generously cover 60% of the total cost of solar panels, leaving the remaining 40% to be shouldered by the homeowner. The range of solar panel options includes 3 kilowatt, 5 kilowatt, 10 kilowatt, and even 25 kilowatt systems.
For instance, the approximate cost of a 3-kilowatt solar panel is Rs 1.5 lakh. With the government subsidy contributing Rs 90,000, homeowners will need to invest Rs 60,000 themselves. Similarly, a 5-kilowatt solar panel system, costing around Rs 2.5 lakh, will see a substantial subsidy of Rs 1.5 lakh from the government, leaving homeowners with a Rs 1 lakh investment.
For those considering a larger-scale 10-kilowatt system with an approximate cost of Rs 5 lakh, the government subsidy amounts to Rs 3 lakh, requiring homeowners to cover Rs 2 lakh. Meanwhile, a 25-kilowatt solar panel system, with an estimated cost of Rs 12.5 lakh, will be subsidized by Rs 7.5 lakh, with homeowners contributing Rs 5 lakh.
Besides the financial benefits, participants in this program can anticipate saving between 30% to 40% on their electricity bills. To apply for the scheme, interested homeowners, whether rural or urban, need to visit their state’s Department of New and Renewable Energy website.
Key Highlights of the Scheme:
- Applicable in both rural and urban areas.
- Government covers 60% of solar panel costs.
- Options available for 3 kW, 5 kW, 10 kW, and 25 kW solar panel installations.
- Expect substantial savings of 30% to 40% on electricity bills.
- The scheme aims to promote solar energy adoption and reduce energy costs for farmers and domestic consumers.
The “Pradhan Mantri Kusum Yojana” scheme is a significant step towards harnessing renewable energy and supporting homeowners in reducing their energy expenses, while contributing to a greener future for India.