Now you can also save up to Rs 18,000 every year by installing solar panels, and will also get up to 300 units of free electricity.

Under the New Solar Scheme, Save Up to ₹18,000 Annually

The rising dependence on fossil fuels is exacerbating environmental pollution and contributing to climate change. As electricity bills soar, many consumers are looking for alternatives. Solar panels offer a clean, sustainable solution, generating electricity without damaging the environment. This article explores how homeowners can qualify for government subsidies to install solar panels and enjoy significant savings.

Investing in solar energy is not just environmentally friendly but also financially prudent. While initial installation costs are required, the savings on electricity bills can lead to a complete return on investment within a few years. Following this period, consumers can benefit from nearly two decades of free electricity.

Government Initiatives to Promote Solar Energy

Recently announced programs like Surya Uday Yojana aim to install solar panels on 1 crore rooftops across India, with generous government subsidies. Under these initiatives, households can receive up to 300 units of free electricity and save up to ₹18,000 on their annual electricity bills.

Subsidy Details and Financing Options

The government is increasing its subsidy on solar panel installations to 60%. For those unable to pay the upfront costs, loans from public sector banks are available, making solar energy accessible to a wider audience.

Generate Income with Solar Panels

Under the On-Grid Solar System, homeowners can sell excess electricity back to the grid, generating additional income. This revenue can help repay installation loans, allowing consumers to enjoy free electricity for years to come.