Empowering Rooftops: The Surge of Solar Loans Under PM Surya Ghar Muft Bijli Yojana

State-owned banks have approved over 5 lakh loans totaling Rs 10,907 crore under the PM Surya Ghar Muft Bijli Yojana to boost rooftop solar capacity. The initiative supports households in generating their own electricity with streamlined credit delivery, affordable loans, and simplified financing processes through Public Sector Banks.

State-owned banks have sanctioned more than 5 lakh loans amounting to Rs 10,907 crore under the PM Surya Ghar Muft Bijli Yojana, an initiative designed to increase rooftop solar capacity, according to an official statement released on Tuesday.

Supported by a streamlined credit delivery process, the scheme offers collateral-free affordable loans at lower interest rates through Public Sector Banks, with the aim of empowering households to generate their own electricity.

As of September 2025, Public Sector Banks have approved over 5.79 lakh loan applications under the scheme. The loans are processed through the JanSamarth Portal, linked with the National Portal for PMSGMBY, to ensure a seamless digital application process. The Department of Financial Services and the Ministry of New and Renewable Energy monitor the scheme's implementation, improving outreach and adoption through collaboration with State Level Bankers Committees.

(With inputs from agencies.)