The increasing costs of utility bills and the advent of clean energy and has resulted in roof-top solar plants becoming increasingly popular among the commercial and residential sectors. Widespread awareness of the benefits of clean energy has encouraged more and more number of people to adopt renewable energy. However, the initial cost of installation still deters many potential users who tend to postpone their switch to solar.
To address this concern, the government of India has prompted the financing of solar plants to be identified as priority sector by public sector banks. With solar loans, a low, fixed EMI is paid every month while allowing the customer to own a solar energy system with minimal upfront investment. Under this solar loan scheme, individual residential users, housing societies, small to medium scale commercial enterprises can avail financing support from the banks with ease. The solar loans are designed such that the EMI comes to around 75 to 80% of the saving made in electricity bills, thus allowing the customer to immediately reap the benefits.
Additional benefits of solar system ownership:
• Zero upfront costs.
• Lower monthly electric bill.
• Additional incentives available by state.
• An increase in your home’s resale value.