PM Modi AC Yojana: Every year, the level of heat increases, which causes an increase in the sale of air conditioning. As to a recent media source, sales of air conditioners grew from 84 lakh in 2021–2022 to 1.1 crore in 2023–2024. This explains why electricity consumption and the strain on the power system are rising annually as a result of the quickly rising demand for cooling. To address this issue, the government has launched the PM Modi AC Yojana program.
Money will be saved in this way.
This new program aims to encourage individuals to replace their outdated, energy-hungry air conditioners with five-star models. People will gain from this as well because five-star air conditioners will use less electricity each month, which will lower electricity bills. The strain on the power grid will also be lessened, as well as to the electricity expense.
The Business Standard story states that the Ministry of Power and the Bureau of Energy Efficiency are working on this plan. This program’s goal is to align with long-term goals such as the India Cooling Action Plan. In order to increase the number of people who can benefit from this program, there is also discussion about offering a wide range of benefits.
This is how you get benefits.
Return the air conditioner to the recycler: After placing the old air conditioner at an approved recycling facility, you will receive a certificate that will allow you to receive a discount on a new air conditioner.
Benefit of discount: Customers who purchase a new air conditioner in return for their old one can receive a discount from popular brands like Blue Star, Voltas, and LG.
Benefit of electricity bill discount: In partnership with electricity distribution companies, the government is thinking of offering customers purchasing new air conditioners a discount on their electricity bills.
The Bureau of Energy Efficiency claims that updating an outdated air conditioner with a five-star model can result in an annual electricity bill savings of Rs 6300. This may lower the strain on the electrical system in addition to cutting the cost on people.
Scheme for BSES Delhi AC Replacement
This type of program is already in place for residents of Delhi. BSES is offering a program whereby individuals who purchase a new air conditioner with a 5-star rating can receive a discount of up to 60% on the new air conditioner after receiving an old one with a 3-star rating. But three units may be replaced per CA number, and the AC must be in working order.