New Delhi, Dec 5 (IANS): The PM Surya Ghar Muft Bijli Yojana aims to supply solar power to one crore households by March 2027, the government reiterated on Thursday.

The scheme was launched by Prime Minister Narendra Modi with the aim of achieving 1 crore rooftop solar installations in the residential sector by Fiscal Year 2027 with an allocated budget of Rs 75,021 crore.

By March 2025, installations under the scheme are expected to exceed 10 lakh, with the numbers doubling to 20 lakh by October 2025, reaching 40 lakh by March 2026, and ultimately achieving the target of one crore by March 2027.

Launched by PM Modi on February 15, 2024, the groundbreaking initiative aims to provide free electricity to households by facilitating the installation of rooftop solar panels, said the Ministry of New and Renewable Energy.

The scheme offers a subsidy of up to 40 per cent to households, making renewable energy more affordable and accessible.

In just nine months, 6.3 lakh installations have been completed, resulting in an impressive monthly installation rate of 70,000, 10 times higher than the pre-scheme average, according to the ministry.

With a goal to benefit one crore households, the programme is also expected to save the government Rs 75,000 crore annually in electricity costs.

"This transformative initiative empowers millions to adopt clean energy, reinforcing India's commitment to sustainable development and energy innovation," said the Ministry.

Earlier, the government said that around 1.45 crore registrations have been done and 6.34 lakh installations were completed under the PM Surya Ghar Muft Bijli Yojana.

The National Portal reported a total of 1.45 crore registrations, 26.38 lakh applications, and 6.34 lakh rooftop solar installations, Union Minister of State (MoS) for New and Renewable Energy and Power, Shripad Naik, said in a written reply to the Rajya Sabha.

The subsidy has been issued to 3.66 lakh applicants, and it is regularly released within 15 to 21 days, according to the Minister.