PNB Solar Loan Scheme 2026: Easy Guide for Indian Homes and Farmers

Let’s be honest: electricity bills in India have a way of creeping up like a quiet neighbor you didn’t invite to the party. One month you’re fine, and the next, your AC or irrigation pump has decided to charge you enough to fund a small space mission.

In 2026, the sun isn’t just for drying papads or getting a tan—it’s the most reliable “salary” your rooftop can earn. Punjab National Bank (PNB) has stepped up as a major financial partner in India’s green revolution, offering specialized solar loans that make “going solar” less about heavy math and more about smart savings.

Whether you’re looking to light up your 3BHK in Delhi or power a 5HP water pump in a village in Punjab, this is your no-nonsense guide to the PNB Solar Loan Scheme 2026.

1. The PNB “Surya Ghar” Connection: Free Power for Homes

Under the national banner of the PM Surya Ghar: Muft Bijli Yojana, PNB has streamlined its rooftop solar financing. The logic is simple: the government gives you a subsidy, the bank gives you a low-interest loan, and the sun pays off the bill.

The Financial Breakdown

For a residential rooftop system up to 10 kW, PNB offers some of the most competitive terms in the market.

Why This Matters for Your Wallet

If you install a 3 kW system, the government provides a central subsidy of roughly ₹78,000.¹ PNB can finance the remaining cost. By the time you finish your 6-month “moratorium” (a grace period where you don’t pay the principal), your electricity savings often cover a significant chunk of your EMI. It’s like the sun is paying your loan for you.

2. PNB Saur Urja Yojana: Empowering the Indian Farmer

Farmers are the backbone of the country, but they are also the most affected by erratic power supply. The PNB Saur Urja Yojana (and its alignment with the PM-KUSUM scheme) is designed to move agriculture from “diesel-dependent” to “sun-powered.”

How Farmers Benefit:

• Solar Water Pumps: Finance for stand-alone or grid-connected solar pumps.
• Loan Limit: Need-based, with a common limit of up to ₹50,000 for lighting/heating or much higher for large-scale pump sets.
• Zero Down Payment: For small and marginal farmers, some PNB tie-ups (like the SwitchON Foundation partnership) allow for nearly zero upfront costs for loans up to ₹1.6 Lakhs.²

The Logic: Diesel pumps are expensive to run and maintain. A solar pump has almost zero running costs. PNB’s 7-year repayment window for farmers is specifically timed with harvest cycles (yearly or half-yearly installments), ensuring you aren’t stressed during the lean months.

3. Eligibility: Can You Apply?

PNB doesn’t ask for your firstborn, but they do have a few “must-haves.” As of 2026, the criteria are quite inclusive:

• For Homeowners: You need a CIBIL score of 680 or above.³ You must own the roof rights (sorry, tenants—you’ll need to talk to your landlord).⁴
• For Farmers: Small, marginal, and even tenant farmers/sharecroppers are eligible under specific agricultural schemes.
• The Income Factor: For loans above ₹2 Lakhs, a minimum annual income of ₹3 Lakhs is usually required.⁵ For anything below ₹2 Lakhs? No minimum income requirement.

4. The “Step-by-Step” Application Process

Gone are the days of standing in three different queues just to get a form. In 2026, the process is largely digital.⁶

1. Register: Head to the [suspicious link removed]. You’ll need your electricity consumer number.⁷
2. Feasibility Approval: Your local DISCOM (Electricity Board) checks if your roof can handle the “back-and-forth” of solar power.
3. JanSamarth Portal: This is where the magic happens. You apply for the PNB loan through the JanSamarth Portal, which connects your government subsidy directly to your bank application.
4. Disbursement: PNB pays the vendor directly.⁸ You don’t have to worry about managing the cash; you just watch the panels go up.

5. Fact Check: Common Myths vs. Reality

Myth: “Solar doesn’t work during the monsoon.”

Reality: Solar panels don’t need “heat”; they need “light.” Even on a cloudy day in Mumbai or Kerala, your panels will generate power, though at a slightly lower efficiency.

Myth: “The maintenance will kill me.”

Reality: Solar panels have no moving parts. Aside from cleaning the dust off with a pipe every couple of weeks, they are remarkably low-maintenance. Most carry a 25-year performance warranty.

6. Pro-Tips for a Faster Approval

• Check Your Electricity Bill: Ensure the name on the bill matches the name of the loan applicant. Any discrepancy can cause a “red flag” in the digital system.
• Pick an Approved Vendor: PNB only finances installations done by MNRE-approved vendors. Don’t let a local handyman convince you he can do it cheaper; it will cost you your loan and your subsidy.
• The “Net-Metering” Secret: Ensure your loan covers the cost of a Net Meter. This device tracks how much power you give back to the grid, which is how you get those “zero” or “negative” bills.

Conclusion: Is 2026 the Year You Go Green?

The PNB Solar Loan Scheme isn’t just about borrowing money; it’s about investing in an asset that pays for itself. With interest rates around 7% and electricity prices rising by 3–5% every year, the math practically does itself.

By the time 2030 rolls around, you could be sitting in a cool, AC-powered room, knowing that your electricity cost is exactly ₹0. That’s not just a “green” dream—with PNB, it’s a standard financial plan.