Supply of the electricity is basically quite a unreliable in most of the parts of India and due to the increased scheduled and unscheduled power cuts of all time of the cities very much in India. There has always been the interest in using the electricity generated through the alternate sources that has also renewed so far.
Government of India Helps To Install Solar Panel At Home
However, we can say that the high capital cost of setting up these systems to tap the energy through the same renewable sources is the very much space in taking up the large scale deployments of the same so far. To promote this electricity generation mission so far, for the solar energy Government has planned to launch a Jawaharlal Nehru National Solar Mission in January of 2010 which has been launched long ago and the main objective of it is to achieve a large scale of solar energy deployment in systems and also to assist even the domestic and the production of the raw materials so far and components as well.
- The basic cost of the solar system as per as the NABARD document is about Rs.270 per Wt. But eventually the unit costs are revised from time to time and that addition to your manufacturer or the supplier who so ever it may be, should be able to guide you properly on the same as well.
- In case if the cost of the unit is by chance less than the benchmark cost then the basic full 40% subsidy can be claimed by you without any hesitation. But if unit cost is very much more than the basic cost then the capital subsidy can be limited to the maximum capital subsidy ceiling as indicated in the boards everywhere so far.
- There are basically individuals, group of individuals, Self Help Groups, JLGs that is Joint Liability Groups, even Non-Government Organizations (NGOs) and Farmer’s club that are very much probably eligible for subsidy through NABARD. Private/Public Limited Companies are not eligible for this subsidy and actually very much comfortable so far.
- To avail this subsidy, what you need to do is to have an account with a scheduled commercial bank or a regional rural bank which is very much mandatory. Most of the public nationalized banks that can be approached for this even valid so far.
- 40% of the cost is in the policy and the rest 60% of the cost is very much so far eligible for a soft loan as well. However the margin that has to be paid by the beneficiary out of the 60% is sophisticatedly decided as per RBI norms confirmly. The repayment period of the loan is almost 5 years which is the best thing. The interest rates are also as per RBI norms and are reliable so far.
- To obtain the loan so far, one has to submit the quotation which should be as per the rule and even the documents that are available from the vendor and vendor should also provide the MNRE approval form, TIN number, project proposal, etc. which is very importantly needs to be submitted to the bank so far immediately.
- After processing the loan basically you need to be verifying all the documents, and even the banks provide loan and the documents are sent to NABARD for releasing the subsidy policy so far. The EMIs starts as soon as the loan is processed; and however release of the subsidy is through the NABARD which so far takes some time. As per MNRE, the interest on the loan which is mandatory should not be for the subsidy part and to be retained well.
- The banks even have the right to recall the subsidy if in case they observe that the subsidy is misused or the rules are being stolen or broken.
So, these are some basics of installations at your home for subsidy so far being the best solar panel plan in India. You can check the 2k solar panel Price in India and other solar panel price in india here.