No, solar electricity is not wasted if it's not being consumed by the premises. During daytime, solar system exports any excess solar electricity not used by the premises to the national electricity grid. Similarly, at night, excess electricity required by the premises is imported from the grid as solar generation is absent at night.
Meter(s) installed along with the solar system keep a record of excess generation exported to the grid and imported from the grid. At the end of each period, the customer is credited for the excess generation exported to the grid as per prevailing state policy, and charged only for net consumption from the grid.

The capacity of a solar connection installation depends on several factors:
Load requirement: It is the capacity needed to power your desired load through solar energy. This varies from state to state. On average, a 1 kW system is suitable for a monthly electricity bill of approximately Rs. 1000.
Shadow-free space available: It is the amount of unobstructed space required for the installation. As a rule of thumb, a 1 kW system typically needs around 100 sq ft of shadow-free space.
Sanctioned load: It is the maximum capacity allowed by state regulations. Generally, exceeding the sanctioned load capacity is not permitted.

Solar Energy Systems rely on a vital component - silicon wafers to convert sunlight into electricity. These semiconducting wafers liberate electrons when exposed to sunlight, establishing a flow of Direct Current electricity. This efficient process allows solar systems to harness renewable energy from the sun, providing a sustainable power source.

A solar rooftop system typically consists of solar modules, solar inverter(s) and other electrical components such as meter(s), cables etc.
Any excess electricity generated is exported to the national electricity grid and owner's account is credited accordingly, subject to prevailing regulatory policies

The scheme provides for a subsidy of 60% of the solar unit cost for systems up to 2kW capacity and 40 percent of additional system cost for systems between 2 to 3kW capacity. At current benchmark prices, this will mean Rs 30,000 subsidy for 1kW system, Rs 60,000 for 2kW systems and Rs 78,000 for 3kW systems or higher.

Housing societies can receive a solar subsidy under the PM Surya Ghar Yojana. The subsidy is Rs 18,000 per kW for common facilities, including EV charging up to 500 kW capacity. Individual flat owners are also eligible for subsidy at their individual residential capacity.