Government Subsidies for Solar Panel, 2024
With the demand for electricity soaring and prices shooting up, it's clear we need an alternative, renewable, and affordable energy solution. Solar panels have emerged as a perfect choice, gaining popularity across homes, businesses, and industries in India. Residential solar installations have increased by a massive 35% in recent years, marking a remarkable move towards a greener future for generations to come.
India, being a country abundant with bright sunlight, is the perfect destination to take advantage of solar energy. Solar panel subsidies provided by the government make the transition from conventional electricity to solar panels easier for common people. It is an initiative to urge people to move towards a sustainable and energy-secure future.
What are Government Solar Subsidies 2024?
Solar panel subsidies are financial
incentives provided by the government to make the installation of solar panels
in homes more affordable. These subsidies encourage the installation, use, and
adoption of renewable energy. Both the central government and state governments
have shown their commitment to renewable energy by offering these subsidies.
The target of the government is to reach 600 GW of solar energy by 2030. The
ideal solar energy system and its components depend on the size of the property
and the energy consumption of the household, ranging from 1 kWp to 10 kWp.
How much Solar Power capacity would a household require?
If the average electricity consumption of
the household is around 0-150 units, then your rooftop solar plant capacity
would be around 1 to 2 kW. If it’s around 150–300 units, then you will need 2–3
kW, and if it’s more than 300 units, you will need about 3 kW or more.
Solar Panel Subsidy by State Government
The Soura scheme, initiated by KSEB,
provides subsidies for households installing rooftop solar panels. A 40%
subsidy is granted for systems with a capacity of up to 3 kWp, and a 20%
subsidy is available for systems with a capacity of up to 10 kWp. This scheme
offers customers a potential return on investment of at least double.
For instance, a 3 kWp solar power plant
can generate around 600 to 700 units of energy over two months, equating to
approximately Rs. 4500 from KSEB. The total cost of such a system is around Rs.
1,90,500. With the 40% subsidy, Rs. 57,003 is deducted, reducing the total cost
to Rs. 1,33,117. The subsidy benefits are provided immediately, without delays
or risks. This initiative also ensures a five-year warranty, quality assurance,
and hassle-free grid interconnection.
Don't miss out on this opportunity!
Partner with Wattsun, Kerala's leading
solar company, to benefit from the subsidy and start cutting your energy
bills. We ensure a seamless process from start to finish, making your
transition to solar energy effortless and rewarding.
Pricelist: Soura Scheme, 2024
Ongrid
solar capacity |
Project
Cost |
CFA/Subsidy
(minus) |
Customer-payable
price |
2 kWp |
Rs.1,35,000 |
Rs.29,176 |
Rs.1,05,824 |
3 kWp |
Rs.1,90,500 |
Rs.43,764 |
Rs.1,46,736 |
5 kWp |
Variable |
Rs.58,352 |
It
depends on the site. |
9 kWp |
Variable |
Rs.87,528 |
It
depends on the site. |
Eligibility : The residential, institutional, and social status sectors are
eligible to apply for this subsidy and also avail of its benefits. Whereas
commercial, industrial, and public sector undertakings are not eligible to
apply,.
Solar subsidy by the Central Government
In the 2024–2025 budget, Finance Minister
Nirmala Sitharaman announced the launch of the PM Surya Ghar Muft Bijli Yojana. The rooftop solar scheme is aimed at
promoting renewable energy and decreasing the cost burden on people for the
installation of solar panels. The scheme was launched by PM Narendra Modi on
February 15, 2024. The initiative aims to reach out to 1,00,00,000 homes across
India, which will save the government about 75,000 crores from the transition
to solar energy.
How
do I apply?
• Register for the portal.
• Log in with your mobile number.
• Apply for rooftop solar panels.
• When you get the feasibility approval, get the plant installed by any of the registered discoms.
• After installation, submit the
plan details and apply for the net meter.
• After installation and inspection
by discom, a commissioning certificate will be generated.
• submit the bank account details
and canceled cheque through the portal.
• The subsidy will be credited to
your account in 30 days.
What
is the subsidized amount?
For up to 3 kW, the total support amount
is 18,000 per kilowatt above 3 kW and up to 10 kW. 18,000 per kilowatt up to 3
kW and 9000 per kilowatt thereafter 10 kW and above 1,17,000 fixed amount
When
does the Solar panel subsidy period end?
Households can apply for the solar
subsidy until March 31, 2026. Those who apply before this deadline are eligible
for financial incentives. Understanding and taking advantage of the subsidies
are highly necessary for moving to a sustainable, renewable, and economical
energy source. Get in touch with Wattsun,
Kerala’s top solar company, to get your rooftop solar panels
installed without any hassle.
Documents
required for Solar subsidies?
• Proof of identity
• Proof of address
• Electricity bill history
• Roof ownership certificate
Benefits
of solar subsidies?
• Free electricity for households
• reduced electricity costs for the
government
• increased use of renewable energy
• reduced common emissions
What kind of rooftops can be used for solar panels?
On a rooftop that gets abundant sunlight
and is load-bearing, solar panels can be used.
Who
is eligible for the solar subsidy?
• The applicant must be an Indian citizen.
• The applicant must own a house that has a roof that is suitable for installing solar panels.
• The household must have a proper electricity connection.
• The applicant must not have applied for any other subsidy for solar panels.
What
is the difference between the state and central subsidy schemes?
Under the state subsidy scheme, the
customer pays post-subsidy to the solar company; that is, the total amount
minus the subsidy will be given to the company, and the subsidized amount will
be claimed by the company from the government. This requires more interactions
with local discoms, which may lead to delays; hence, this process might be a
little more time-consuming than the national scheme.
Under national schemes, the applicant can
register through the national portal directly; it is a more uniform, unified
platform that provides direct benefit to the applicant. The subsidized amount
will be transferred within 30 days of commissioning, so this means the entire
amount should be paid directly.
Conclusion
Installing solar panels comes with a ton of benefits and is one of the best long-term decisions you can make. It's great for you, your wallet, and the planet. The time has come for everyone to switch to greener, more sustainable energy sources. Doing your part by installing solar panels is simple and straightforward, and we're here to make it even easier. From handling the paperwork to getting approvals for state or central schemes, Wattsun is here to guide you through the whole process. Get in touch with Wattsun, the best solar company in Kerala , and let's work together for a greener tomorrow!