The ongoing COVID situation has restricted most of us to stay home – one of the co-effects of which is an increase in our household electricity consumption. It is without a doubt that the rise in consumption is naturally accompanied by a deeper dent in our pockets. At this point, at least some of us would have definitely considered setting up rooftop solar panels to power our homes, thereby saving us from our woes of having to pay such high bills.
However, in spite of this initial urge, our experience tells us that most residential consumers get discouraged to pursue the huge upfront cost. However, if you look at the long term benefits- solar systems have no moving parts, makes no noise, occupies minimal area, produces zero emissions and requires minimal maintenance. What more could one hope for from their ‘personalised’ power generation source! Well, if it is the ‘upfront cost’ that is bothering you still – then here’s some good news for you! The government of India has introduced a solar subsidy scheme for residential consumers to promote the adoption of solar power.
While people are glad that the government has introduced solar subsidy; however, consumers lack the required know-how of availing it. Many a times, finer details regarding the required documentation, whom to approach, how to approach and other related complexities create a mental roadblock for consumers to pursue this further.
Does this sound like your situation?
Then, be rest assured! We at Freyr Energy have it sorted for you. At our end, we ensure that you have a complete hassle-free experience towards availing the solar subsidy and thereby enable you to have a successful solar panel installation at your premises. All you need to do is very simple- Reach out to us!
To help you take an informed decision, we would like to give you a basic understanding of the scheme and how you could benefit from it.
Who is this subsidy intended for?
All residential homeowners are eligible to get this solar subsidy. The very intent behind this subsidy is to encourage residential consumers and housing group societies/ resident’s welfare association to proactively pursue the cost effective ‘solar for home’ energy option.
How much is the subsidy?
The percentage of subsidy you are eligible for as per MNRE, has been described below:
|Installed Capacity||Subsidy Available|
|Up to 3 kWp||40%|
|3 kWp to 10 kWp||40% for first 3kW + 20% for capacity above 3kW|
|10 kWp to 500 kWp||20% (for GHS or RWA)|
What are the provisions of availing this subsidy?
There are some caveats to the financial assistance:
- Domestically manufactured solar cells and PV modules have to be used for installation.
- The financial assistance shall be provided as a % of the benchmark costs as identified by MNRE or on the lowest cost discovered by a tendering process in the respective state/ UT – whichever is least. These benchmark costs, however, are only guidelines. The actual rates and policies differ from state to state.
How can I avail this subsidy?
This scheme will be implemented through the power distribution company (DISCOM) of each area. This is where you can benefit from our team’s expertise. In addition to taking care of all the documentation, our team will explain the necessary details for installation of the solar PV system.
At Freyr, we have been handholding homeowners pan India to harness solar energy and save big on their electricity bills every month, for the last many years. In addition, we are better positioned to help you avail the solar subsidy through our empanelment with state agencies.
Now that you know what solar subsidy is, the benefits of availing it and how you can avail it hassle-free, what’s holding you back? In addition to saving on your expenses, this is a way of doing your bit to make our planet more sustainable for our children! Let’s Go Solar!