Tata Power CEO on Surya Ghar Yojana: Taking Solar to Every Home with Financing & Fast Delivery
India’s ambitious journey toward a sustainable energy future has gained significant momentum with the PM Surya Ghar: Muft Bijli Yojana, a flagship government initiative aimed at powering one crore households with rooftop solar systems by March 2027. At the forefront of this green revolution is Tata Power Renewable Energy Limited (TPREL), led by CEO and Managing Director Sanjay Banga, who has outlined a bold vision to make solar energy accessible, affordable, and seamless for every Indian household. Through strategic financing partnerships, rapid delivery systems, and innovative solar solutions, Tata Power is transforming the renewable energy landscape under the Surya Ghar Yojana. This blog explores Banga’s insights, Tata Power’s contributions, and the broader impact of this initiative on India’s clean energy goals.
The PM Surya Ghar Yojana: A Game-Changer for Solar Adoption
Launched by Prime Minister Narendra Modi in 2024, the PM Surya Ghar: Muft Bijli Yojana is one of the world’s largest residential rooftop solar programs, backed by a ₹75,021 crore budget until 2026-27. The scheme offers substantial subsidies—up to 60% for systems up to 2 kW and 40% for systems between 2 and 3 kW, capped at ₹78,000 for 3 kW installations. It aims to provide up to 300 units of free electricity monthly to eligible households, reducing electricity bills by up to ₹15,000 annually while allowing surplus power to generate additional income through net metering. The initiative aligns with India’s goal of achieving 280 GW of renewable energy capacity by 2030, with rooftop solar playing a pivotal role.
Sanjay Banga, in a recent interview with Business Today on July 14, 2025, emphasized the transformative potential of the scheme, stating, “Tata Power is committed to taking solar to every home, leveraging our end-to-end leadership in India’s solar journey.” His vision underscores Tata Power’s role as a one-stop solution provider, from manufacturing high-efficiency solar cells and modules to executing installations and offering lifecycle support.
Tata Power’s Role: From Manufacturing to Installation
Tata Power’s comprehensive approach sets it apart in the renewable energy sector. With over 30 years of experience, the company is India’s leading solar rooftop EPC (Engineering, Procurement, and Construction) player, having installed over 2 GW of rooftop solar capacity across 300 cities. Its 4 GW solar cell and module manufacturing facility in Tirunelveli, Tamil Nadu, and a 20-year-old unit in Bengaluru ensure a robust supply chain for high-quality, made-in-India solar panels. Banga highlighted the company’s ability to deliver “quality and affordable solar solutions” through a network of over 550 channel partners and 225 authorized service providers across 200 cities.
The Ghar Ghar Solar, Tata Power ke Sang initiative, launched in states like Uttar Pradesh, Rajasthan, Kerala, Chhattisgarh, and Tamil Nadu, has been instrumental in driving grassroots adoption. In Chhattisgarh alone, Tata Power has completed over 600 installations, offering subsidies up to ₹78,000 and net metering benefits to reduce energy costs. The initiative’s success in Varanasi, Uttar Pradesh, where 10 lakh homes have the potential for rooftop solar, demonstrates its scalability. By using advanced bifacial panels that absorb light on both sides, Tata Power ensures higher efficiency in smaller spaces, making solar viable for diverse households.
Financing Solutions: Making Solar Accessible
A key pillar of Tata Power’s strategy is its partnerships with over 25 financial institutions, including Indian Bank, Bank of Baroda, Bank of India, Union Bank of India, Canara Bank, and IndusInd Bank, to provide tailored financing solutions. These collaborations align with the PM Surya Ghar Yojana’s goal of making solar affordable by offering low-cost, hassle-free loans. For systems up to 3 kW, residential consumers can avail loans up to ₹2 lakh at a 7% annual interest rate with only a 5-10% margin money requirement and no collateral. For larger installations (3-10 kW), loans up to ₹6 lakh are available with flexible repayment tenures of up to 10 years.
Banga emphasized the importance of these financing options, stating, “Our tie-ups with leading banks and NBFCs ensure instant loans, making solar adoption seamless for homeowners.” This consumer-centric model reduces financial barriers, particularly for underprivileged households, enabling them to embrace clean energy without upfront cost burdens. Additionally, Tata Power’s streamlined application process through the official portal (pmsuryaghar.gov.in) simplifies registration, vendor selection, and subsidy access, ensuring a hassle-free experience.
Fast Delivery and Robust Supply Chain
Tata Power’s ability to ensure rapid module delivery is a cornerstone of its success under the Surya Ghar Yojana. Strategically placed warehouses across India enable quick turnaround times from inquiry to installation. Banga noted, “Our robust supply chain, backed by nationwide channel partners and advanced manufacturing facilities, ensures that solar modules reach customers swiftly.” This efficiency is critical in meeting the scheme’s ambitious target of one crore installations by 2027. The company’s 25-year warranty on modules, comprehensive inverter inspections, and lifetime service support further enhance consumer trust and system reliability.
However, challenges remain, such as inexperienced vendors and improper wind load calculations leading to subpar installations. Tata Power addresses these through its extensive network of trained channel partners and rigorous quality assurance, ensuring weatherproof and robust solar systems.
State Participation and Future Outlook
Banga has called for greater state participation to expand solar access, particularly in regions lagging behind, such as Odisha, where only 7,130 of 97 lakh consumers have adopted rooftop solar under the scheme. States like Tamil Nadu, with 240 MW of installed capacity, and Uttar Pradesh show promise, but broader state-level support is needed to meet national targets. Tata Power’s initiatives, such as the Ghar Ghar Solar campaign launched in Coimbatore, Tamil Nadu, on October 18, 2024, aim to bridge this gap by offering subsidies, net metering, and comprehensive after-sales support across all districts.
Dr. Praveer Sinha, CEO and MD of Tata Power, reinforced this commitment at the Chhattisgarh launch, stating, “With subsidies of up to ₹78,000 and net metering benefits, we are making solar energy financially viable for every adopter, supporting India’s transition to a low-carbon economy.”
Environmental and Economic Impact
The PM Surya Ghar Yojana, with Tata Power’s leadership, is poised to transform India’s energy landscape. By offsetting approximately 51,674,454.89 tons of CO2—equivalent to planting 18 lakh trees over 25 years—the initiative contributes significantly to India’s net-zero goal by 2070. Economically, households can save up to 90% on energy bills, with a 3 kW system reducing monthly costs by ₹2,500–₹4,000. Surplus power credits through net metering further enhance financial benefits, making solar an attractive investment.
Conclusion
Under Sanjay Banga’s leadership, Tata Power is revolutionizing solar adoption through the PM Surya Ghar Yojana, combining innovative technology, accessible financing, and rapid delivery to bring clean energy to every Indian home. By leveraging its manufacturing prowess, extensive channel network, and strategic partnerships, the company is not only meeting the scheme’s ambitious targets but also empowering households to embrace a sustainable future. As Banga aptly puts it, “Solar energy is our ticket to independence from fossil fuels, slashing carbon footprints and building self-sufficient homes.” With Tata Power’s continued efforts and greater state collaboration, India’s solar revolution is illuminating a brighter, greener tomorrow.
Sources:
- Business Today, July 14, 2025
- Tata Power Solar Systems Limited, April 23, 2024
- Business Standard, February 6, 2025
- Tata Power, March 17, 2025
- New Indian Express, June 18, 2025
- PV Magazine India, February 6, 2025
- Tata Power, October 21, 2024
- Tata Power, February 7, 2025
- Tata Power, July 26, 2024
- Free Press Journal, March 5, 2024
- Tata Power, October 29, 2024
- SolarQuarter, October 19, 2024
- Mercom India, April 24, 2024
- Tata Power Solar, July 5, 2024
- Tata Power Solar, September 10, 2024
- Business Standard, October 18, 2024
- X Post by @TPREL, July 18, 2025
