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Tuesday, April 20, 2021

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Government Subsidies to Help You Adopt Solar Power

Solar is the future of energy in India and time investment can help you save money and the environment at the same time. It’s a win-win situation, so what is stopping you from taking the plunge?

Setting up a solar rooftop system is a one-time investment with a payback period of around 3-4 years, and one can enjoy free electricity, even can earn from the solar system.

The average cost of a rooftop solar system connected to a grid is Rs. 60 per watt.


The Government of India under the Ministry of New and Renewable Energy has launched several subsidy schemes under the GCSRP to harness the massive solar potential of the country by encouraging willing citizens to adapt to the solar mission.

The Grid Connected Solar Rooftop Programme (GCSRP)

Specially designed for families to help adopt Solar Power, the objective of the plan is to achieve around 40,000 MW from Rooftop Solar (RTS) Projects by the year 2022.  The Scheme is implemented through Power Distributing companies (DISCOMs). The residents have to approach Mint Solar for installation and avail central financial assistance (CFA).


How is the CFA provided to the resident?

 In Uttar Pradesh 40% CFA for capacity up to 3 kW,  20% CFA is provided for capacity up to 10 kW

To promote local businesses, all subsidies under GCSRP can only be availed on Made in India solar panels or Rooftop systems. Mint Solar is a Lucknow-based manufacturing company that specializes in providing solar panels and rooftop solutions.


Benefits for Commercial Establishments

The central government allows accelerated depreciation benefit to private companies that have invested in solar energy. Companies can use this to substantially reduce the tax burden of the project up to 100% of the project cost.  

Cheap Loans from Banks

 Individuals can avail loans up to 10 lakhs from nationalized banks all over the country. The loans fall under the category of home or home improvement loans.


Additional Subsidy by the State Government

In Uttar Pradesh, the nodal agency UPNEDA provides an additional Rs. 15,000 as a subsidy to residents. The subsidy is capped at Rs. 30,000 for 2 Kwh projects. Only government-recognized (impaneled by UPNEDA ) companies can provide residents subsidy which is only about 60 and Mint Solar is one of such company.

Get Professional Assistance

All this can seem like jargon to you but do not be overwhelmed and get advice from reputed professionals at Mint Solar. They have on-board solar, technology, and management experts to guide you in the right direction and is the channel partner of MNRE, impaneled by UPNEDA, and panel manufactured in Mint Solar Solutions Lucknow  are BIS approved modules


India is the fastest developing energy market in the world. The cost of production and installation is cheap and with more than five months of clear skies and abundant sunshine, India is soon set to become the biggest solar market in the world.

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