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Govt to Offer 60% Subsidy under Pradhan Mantri Suryoday Yojana

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60% subsidy suryoday yojana
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The current subsidy rate offered to people who are installing rooftop solar systems is 40%. However, in a recent announcement, Union minister for new and renewable energy, RK Singh has said that the central government will now offer 60% subsidy under the Pradhan Mantri Suryoday Yojana.

This 20% increase in the subsidy amount is going to be extremely beneficial to beneficiaries of the scheme. The remaining 40% for the scheme will be covered by loan facilitated through a Special Purpose Vehicle (SPV).

The government is slowly gearing up for the implementation of scheme. In the process, REC Ltd has been appointed a nodal agency for scheme implementation.

Do Read – PM Suryoday Yojana Eligibility

Also, States are UTs may also provide additional subsidies. A great example of this is Delhi. The Delhi government in the Solar Policy 2024 has clarified to provide additional subsidy apart from the central government’s.

During the Interim Budget 2024 speech, Finance Minister Smt. Nirmala Sitharaman gave another gift to the people participating in the scheme. She told that every family which installs the solar rooftop under this scheme, gets 300 free electricity units per month.

Key Points

  • The subsidy rate to be offered under Pradhan Mantri Suryoday Yojana is going to be increased by 20%. The current rate is 40% and new applicable rate will be 60%.
  • The remaining 40% amount will be covered by Loan.
  • Apart from these benefits, the beneficiaries will get 300 units free electricity per month and they can make money by selling additional generated power through solar rooftop plant

If you are now aware of the scheme, go to the Suryoday Scheme Details Page and get to know all about it.