How to install Solar Panels under PM Surya Ghar Muft Bijli Yojana

As the summer is about to begin, the use of ACs, fans, coolers, and fridges will increase in our homes, which will cause the electricity bill to rise approximately 2-3 times as compared to the winter season. Like every year, new appliances will be purchased in our homes this year as well, due to which the electricity bill may increase further. According to research reports, every year electricity rates increase by 7% to 10%, due to which there are problems of power cuts, low voltage, and high electricity bills during the summer season. However, there are many measures to reduce the electricity bill, which can be adopted to control the rising electricity bill.

If you’re planning to buy new appliances, consider buying Energy Efficient Appliance. The power consumption of this type of equipment is less than normal equipment, due to which electricity consumption is less. However, Energy Efficient Appliances cost more than normal appliances. If you are buying an AC, choose one with a 5-star, 4-star, or 3-star rating. By adopting these you can save to some extent on your electricity bill.

Nowadays solar energy is being promoted rapidly. People can reduce electricity bills by installing solar panels on the vacant rooftops of their houses and invest the saved money elsewhere, like mutual funds, ETF gold, LIC, etc. As long as the solar panel generates electricity, this investment will also become huge in time. Let us understand this with an example:

If you pay an electricity bill of ₹3000 every month during the summer season and around ₹15,000 to ₹20,000 in a year, you can install a 3 KW on-grid solar system. This will save ₹84 to ₹100 per day, resulting in savings of ₹2400 to ₹3000 in a month and ₹25,000 to ₹30,000 in a year. Solar panels have a lifespan of 25 to 30 years, so you can imagine the huge savings this will provide.

According to the SIP calculator, if ₹ 2500 is saved every month, this amount can amount to approximately ₹ 47,44,088 in the next 25 years. However, there will be some expenses in the meantime, such as the need to replace the inverter every 5-10 years. However, the investment in solar panels recovers in 3-5 years, and after that, you will get free electricity.

How to install solar panels under PM Surya Ghar Muft Bijli Yojana?

The Government of India has established a subsidy program to make solar energy more accessible. However, the complete amount has to be deposited at the time of installing solar panels. If you install a 3 kW rooftop solar system, it can cost around ₹1,80,000 to ₹2,20,000. In this, subsidy ranging from ₹ 78,000 to ₹ 1,08,000 is provided by the Central and State Governments. Every state has different subsidy programs, which provide subsidies as per the state laws.

The Government of India has created a national portal for solar consumers, where the entire process from registration to subsidy is completed in one place. To install solar panels, you must have an electricity bill and mobile number.

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