representative image Government The government is considering simplifying the process for families to get loans for production solar energy Under the major scheme of the government, PM Suryaghar Free Electricity SchemeOfficials said.
new and Ministry of Renewable Energy He said the government is in discussion with the Department of Financial Services and public sector banks to simplify the process of granting loans under the scheme.
Discussions are underway to cut down on processes and document submission and the need for installation site inspections by banks, a government official said.
This scheme provides loan facility from public sector banks at 7% interest. Its national portal is integrated with the Jan Samarth Portal, a national portal for credit-linked government schemes.
“Inspection of the site is a big step and once it is removed, the process can be simplified to a great extent,” said the official, who did not wish to be identified.
The scheme aims to enable households to generate their own electricity and achieve installation in 10 million households in the residential sector by 2026-27 with an outlay of Rs 75,021 crore. A financial outlay of Rs 9,600 crore has been allocated for the scheme in the revised estimate stage in 2024-25.
The official said, although the installations under the scheme have increased significantly compared to the earlier rooftop scheme, there are several areas of improvement that can help reduce the time taken in loan and subsidy distribution.
The scheme has seen 685,763 installations since its launch in February, reaching 86% of total installations in the decade before that.
