SOLAR-MAIT - Blog , Indian govt schemes, policies

Solar Panel Subsidy 2023

Wed, 14 Jun 2023 19:00:00 +0530

Hey! Are you looking for a subsidy or other benefits for solar? But You don't know about solar subsidy. Don't worry you are at the right place.

Here you will figure it out, What is Solar Subsidy, eligibility criteria & much more. Lets Explore.

What is Solar Subsidy?

Solar subsidies are financial incentives provided by the MNRE( Ministry of New and Renewable energy) and to individuals, households to promote the installation of solar power systems. These subsidies aim to make solar power more affordable and accessible to the masses, ultimately accelerating the transition towards clean energy. By reducing the upfront costs associated with solar installations, the government hopes to encourage more people to embrace this sustainable energy source.

In recent years, there has been a growing emphasis on renewable energy sources to combat climate change and reduce dependence on fossil fuels. Solar energy, in particular, has emerged as a viable and sustainable alternative for meeting our energy needs. The Government of India, through the Ministry of New & Renewable Energy (MNRE), recognizes the importance of solar power and has introduced subsidies to encourage its adoption.

Who is eligible for Solar Subsidy?

Any person who wants to install solar system for their residential use.

Please pay extra attention: No subsidy will ne given by MNRE for Commercial or Industrial Uses.

How we can calculate our subsidy amount?

Understanding the Subsidy Structure:

To make solar subsidies more transparent and straightforward, the MNRE has devised a tiered system based on the capacity of the solar power system. Let's take a closer look at each tier:

(1) Solar Systems up to 3 Kilowatts (kW):

For solar systems with a capacity of up to 3 kW, the applicable subsidy is ₹ 14,588/- per kilowatt. This means that for every kilowatt of installed capacity, a subsidy of ₹ 14,588/- will be provided. To better understand this, let's consider an example:

Suppose,

If you install a 2 kW solar power system, the total subsidy you would be eligible for is:

2 kW Multiply by ₹ 14,588/- per kW = ₹ 29,176 /-

(2) Solar Systems above 3 kW and up to 10 kW:

For solar systems with a capacity exceeding 3 kW and up to 10 kW, For first 3 KW subsidy will be ₹14,588 per Kw, Then From 4 to 10 Kw subsidy amount is ₹ 7,294/- per kilowatt. Continuing with our example, let's see how this works:

Example:

If you install a 5 kW solar power system, the total subsidy you would be eligible for is:

5KW = (3KW + 2KW )

For first 3 kW,

Subsidy will be ₹ 14,588/- per kW = 3kw Multiply by 14,588 = ₹43,764 ( For first 3 kw )

Rest 2 kW,

Subsidy amount will be ₹7,294/- per KW=" 2kw" Multiply by ₹7,294 = ₹ 14588 ( For rest 2kw )

Total Applicable Subsidy for 5 kw Will be, ₹43,588 + ₹14588 = ₹58,176.

(3) Solar Systems above 10 kW:

For solar systems with a capacity exceeding 10 kW, a fixed subsidy of ₹98,822/- is provided, regardless of the installed capacity. Let's illustrate this with an example:

Examples:

(1) If you install a 12 kW solar power system, the total subsidy you would be eligible for is ₹94,822 fixed.

(2) If you install a 18 kW solar power system, the total subsidy you would be eligible for is ₹94,822 fixed.

(3) If you install a 25 kW solar power system, the total subsidy you would be eligible for is ₹94,822 fixed.

Which means, Above 10kw plant subsidy will be fixed ₹98,822.No Matter your plant is 15kw, 20kw,25kw or More.

I hope you understand, all fundamentals of Solar Subsidy Scheme. If you know more about it. Call us on 844-844-6252 & Get free site inspection.

About SOLAR-MAIT,

As India’s top solar company, we partner with the country’s leading solar brands, experts, and installers to deliver the highest level of quality and innovation. Our team of expert engineers and technicians are committed to providing the best service and support to our customers, ensuring that they get the most out of their solar system. Our team of expert engineers and technicians are dedicated to providing the highest level of service and support to our customers. From initial consultation and design to installation and ongoing maintenance, we work closely with our customers to ensure they get the most out of their solar system. Whether you’re a homeowner, business owner, or community organization, SOLAR-MAIT is here to help you harness the power of the sun and take control of your energy future. Contact us today to learn more about our solar products and services, and how we can help you make the switch to clean and renewable energy.

Thank you for reading :)

Krishna Roy

Branding & Marketing Head

Subsidy in Solar Panel

Tue, 23 May 2023 15:00:00 +0530

Different states in India have different policies and subsidies for solar panels. Some states, such as Andhra Pradesh, Gujarat, and Tamil Nadu, have established policies to encourage the use of solar energy and provide subsidies for solar panel installation. Other states, such as Maharashtra and Rajasthan, also have policies to promote the use of solar energy but the subsidies and incentives may vary. It is best to check with the state renewable energy department or the Ministry of New and Renewable Energy (MNRE) for specific information on solar panel subsidies in your state. Going solar in the state of Karnataka can lead to significant savings on electricity bills. Here are a few key points to consider when assessing the potential savings from going solar in Karnataka:

Net metering: Karnataka has implemented net metering, which means that households with solar panels can sell excess energy back to the grid, effectively reducing their electricity bills.
Government subsidies: The state government provides subsidies for solar panel installation, which can further reduce the cost of going solar.
Tax benefits: The government also offers various tax benefits for solar panel installation, such as income tax exemptions and accelerated depreciation.
Reduced dependence on grid electricity: By generating your own electricity through solar panels, you can significantly reduce your dependence on grid electricity, resulting in lower bills.
Long-term savings: Investing in solar panels can lead to long-term savings on electricity bills, as the cost of solar energy continues to decrease.

It is always recommended to consult with a solar panel installation professional to determine the specific savings that can be achieved in your situation. Additionally, the savings from going solar will also depend on the size of the solar panel system, the location and orientation of the solar panels, and other factors.

The Union Ministry of New and Renewable Energy (MNRE) has allocated 10 megawatt capacity to Bescom. “Under this scheme, MNRE is providing a 40% subsidy for the first 3 kW and a 20% subsidy beyond 3 kW and up to 10 kW. The scheme is being implemented in the States by local Electricity Distribution Companies (DISCOMs).

How much money does going solar save?

The money that your solar system saves will depend on its capacity. Why – you ask us? Well, the number of units a system generates depends on the capacity of the system.

Here’s a breakdown of the average number of units a solar system generates.

Capacity of the solar system	Average units generated daily	Average units generated yearly
1 KW	4	1440
2 KW	8	2880
3 KW	12	4320
4 KW	16	5760
5 KW	20	7200

Per se, the electricity tariff per unit in your area is ₹10. Here’s what the yearly savings will look like:

Capacity of the solar system	Electricity tariff per unit	Average units generated yearly	Approx. yearly savings
1 KW	₹10	1440	₹14,000
2 KW	₹10	2880	₹28,000
3 KW	₹10	4320	₹43,000
4 KW	₹10	5760	₹57,000
5 KW	₹10	7200	₹72,000

You can edit text on your website by double clicking on a text box on your website. Alternatively, when you select a text box a settings menu will appear. your website by double clicking on a text box on your website. Alternatively, when you select a text box.

Get Started Now