Solar Panels Prices In India For Home Subsidy

Last Updated: May 8, 2020

Developed countries’ governments are providing solar panel subsidies. India is one of them, so here are the solar panels prices in India for home subsidy.

First, we talk about where India is now in the solar industry. So India is one of the fastest emerging countries in the solar industry. India is a quite big country, it requires too much amount of energy i.e in gigawatts to run itself.

Achievements By Indian Government.

It is one of the countries where sunlight is available to a great extent, so we know solar panels require a great amount of solar energy for efficient production. Its solar installed capacity touched over 32GW. Once India targeted to plant solar panels of 20GW and it covered it 4 years before that is very good for the environment.

Solar Panel in India

As we mentioned that they need too much energy, therefore their government took initiative to make solar panels more accessible.

Solar Panels Prices In India

Central Government and  State Nodal Agencies (SNAs) both provide subsidy schemes for making solar energy more reachable. According to the Ministry of energy, the Central Government pays 30% of the benchmarked installation cost for PV systems. This subsidy is relevant in states that are in the general classification. However, a subsidy of up to 70% of the standard installation cost is being given in some states that lie in the specific category — North MNRE PV Rooftop Cell.

This includes states such as Himachal Pradesh, Uttarakhand, Sikkim,  Jammu & Kashmir, Lakshadweep, and many others. However, these subsidies are for institutional, residential and social sectors. So you are not supposed to use it for the commercial sectors, and industrial sectors. PSUs are eligible to avail incentives based on energy generation.

The average cost of installation of a rooftop PV system without subsidy is approximately Rs 60,000 – 70,000. So without a 30% subsidy, people just have to pay Rs 42,000 – 49,000 for installing a rooftop PV system.

On the other hand, according to the announcement by MNRE, all consumers can avail of a 30% to 90% subsidy on a standard. 90% On Solar Water Pumping Systems for Farmers only. however,70%For 3 Hill States Himachal, Uttarakhand & Jammu-Kashmir only.30% For all States of India. On the other hand, the government is providing loans too.

Who is eligible for Solar Subsidy?

Prevailing beneficiaries that are eligible for grid-connected rooftop solar systems are:

  • Homeowners
  • Housing societies
  • Non-profit institutions
  • Colleges

Financial establishment or government buildings are no more eligible for capital subsidy anymore.

How to apply for subsidy on solar panels

If you want to take subsidy on your solar system you can apply on MNRE and follow the process of subsidy.if you have already installed the solar system and want to install solar system then please the panel you have installed or installing please that the panel should MNRE certification otherwise you can not eligible to get the subsidy. The subsidy is only available on-grid solar system.

The first you have to do is very it is important to pick the right manufacturer/supplier from whom you buy the Solar PV system. The manufacturer/supplier should be an MNRE (Ministry of New and Renewable Energy) certified manufacturer/supplier. Only the models supported by MNRE are eligible to be comprised under the scheme. The list below gives models approved by MNRE

Conclusion

If you are buying the solar system from loom solar we help you to the process of getting subsidy on your solar system, Loom solar is giving a 30% subsidy on your electricity bill but it can vary on the state policy. If you want more details about this click here

Other Subsidies

If you are gonna install a solar panels system, you would have to pay around 70% of the actual amount. If a family is paying more than the bill of paying over Rs.1000 or Rs.1500, then you should consider solar energy. On the other hand, the Indian government makes you save thousands of rupees. So you can save up to 25% of your electricity bill.

We are gonna you some estimated amounts of different solar plants of different kilowatts. Like if 1KW solar plant costs you around Rs.75000, so you can save  Rs.20000. And if 2KW solar plant costs you around 140000, so you can save up to Rs.40000. And like 3KW solar plant costs you 210000, you can get 60,000. For further detail, click on the link;

Final Words

India is developing and emerging every day in almost every field (i.e Information Technology, Science, etc). It is a big country and importing oil for powering up all the country needs cost it too much. So in the era of Solar energy, India can lessen the importation of Oil.

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