Going solar is more affordable than you think — here's how it's financed.
Between the central government's PM Surya Ghar subsidy and low-interest bank loans, most homeowners and businesses in Andhra Pradesh and Telangana can go solar with little to no upfront cash. This guide walks you through exactly how.
PM Surya Ghar: Muft Bijli Yojana
The central government's flagship rooftop solar scheme pays a direct subsidy into your bank account after installation, cutting your upfront cost significantly — and it's the same subsidy structure whether you're in Visakhapatnam or Hyderabad.
Who's eligible
- You own the residential property and have rooftop rights, or hold clear rooftop-use permission from the owner
- You have a valid residential electricity connection (sanctioned load of 10 kW or below for the standard scheme)
- The system is installed using ALMM-listed (government-approved) panels and inverters through an empanelled vendor
- The installation is grid-connected and gets net-metering clearance from your DISCOM (APEPDCL/APSPDCL in AP, or TSSPDCL/TSNPDCL in Telangana)
How it lowers your upfront cost
The subsidy isn't a discount at the time of purchase — it's a Direct Benefit Transfer (DBT) credited to your bank account roughly 30–45 days after your DISCOM commissions the system and confirms net metering. Most homeowners bridge this gap with a short-term solar loan (see below), then use the subsidy the moment it arrives to prepay the loan and shrink their EMI.
How to apply on the National Portal
Register on pmsuryaghar.gov.in
Sign up with your state, district, DISCOM, and electricity consumer number.
Apply for rooftop solar
Submit your application after login; the DISCOM reviews feasibility (transformer and feeder capacity).
Get it installed
Once approved, install through any DISCOM-registered vendor — we handle this step for you end-to-end.
Submit plant details & apply for net meter
Enter system details on the portal and request net metering from your DISCOM.
Receive your subsidy
After net-meter installation and inspection, a commissioning certificate is generated — submit bank details and the subsidy is credited via DBT.
Financing the rest, at bank rates far below a personal loan
Public sector banks offer dedicated, collateral-free solar loans under PM Surya Ghar — at a fraction of what a regular personal loan would cost you.
| Bank | Scheme | Loan amount | Indicative rate | Collateral |
|---|---|---|---|---|
| SBI | PM Surya Ghar — Loan for Solar Rooftop | Up to ₹2 lakh (up to ₹6 lakh for larger systems) | ~7% – 9% p.a.* | None up to ₹2 lakh |
| Canara Bank | Canara Rooftop Solar (CRTS) — PMSGY | Up to ₹2 lakh (up to ₹6 lakh for larger systems) | ~6.5% – 8% p.a.* | None up to ₹2 lakh |
| Punjab National Bank | Scheme for Financing Rooftop Solar Power Systems | Up to ₹2 lakh (up to ₹6 lakh for larger systems) | ~7% – 9% p.a.* | None up to ₹2 lakh |
| Local Cooperative Banks | District & state co-operative solar loan schemes | Varies by district | Varies — often member-concession rates | Depends on scheme |
account_balance Special benefits for government employees & salaried professionals
- Faster, simplified processing when your salary account is held with the lending bank
- Lower documentation — salary slips and Form 16 often substitute for detailed income proof
- Many PSU banks offer a concession of 0.05%–0.10% on the interest rate for government/PSU salaried applicants and women borrowers
- Higher loan eligibility relative to income due to salary-account visibility and stable repayment history
- Some banks allow direct EMI deduction from your salary account, reducing default risk and paperwork
Let our team handle the subsidy paperwork and bank loan process for you
From subsidy application to loan comparison and EMI planning — we guide you through every step, at no cost. Just share your details and we'll get back within one business day.
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