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Solar Panel Costs in Kerala in 2024: A Comprehensive Guide

India’s reliance on non-fossil fuels to reduce greenhouse gas emissions is expected to increase steadily soon. In a business article published by The Hindu in June 2024, it was stated that India would spend a maximum of $385 billion to meet the nation’s renewable energy target of 500 GW by 2030.

 

Kerala, one of the southern states of India, is doing its part to encourage the use of solar power by offering subsidies over solar panel costs. In the blog, you will learn about the present costs and subsidy schemes to increase your return on investment.

Solar Panel Costs in Kerala:

The following are the estimated solar panel costs for homes, varying based on the capacity of the solar system. Other factors that may influence these estimates include your energy requirement and the size of your property.

 

Size of the Solar System

Solar Panel Costs (Estimated Range)

1kW Solar System

Rs. 75,000 – 85,000

2kW Solar System

Rs. 1,50,000 – 1,70,000

3kW Solar System

Rs. 1,89,000 – 2,15,000

4kW Solar System

Rs. 2,52,000 – 2,85,600

5kW Solar System

Rs. 3,15,000 – 3,57,000

 

Solar Panel Costs in Kerala With Subsidy

You can find the subsidy schemes on the solar panel costs for homes in Kerala in the National Portal for Rooftop Solar. Eligible consumers must register in the portal to apply for the subsidy schemes. The portal shows the fixed financial aid on each kilowatt for solar panels of different capacities as decided by the Government of India. In the following table, you will find the solar panel costs for homes in Kerala after applying the subsidies.

 

Solar System Size

Solar Panel Costs (Estimated Range)

Subsidy Applicable

Solar Panel Costs (Estimated Range after Subsidy)

1kW Solar System

Rs. 75,000 – Rs. 85,000

Rs. 30,000

Rs. 45,000 – Rs. 55,000

2kW Solar System

Rs. 1,50,000 – Rs. 1,70,000

Rs. 60,000

Rs. 90,000 – Rs. 1,10,000

3kW Solar System

Rs. 1,89,000 – Rs. 2,15,000

Rs. 78,000

Rs. 1,11,000 – Rs. 1,37,000

4kW Solar System

Rs. 2,52,000 – Rs. 2,85,600

Rs. 78,000

Rs. 1,74,000 – Rs. 2,07,600

5kW Solar System

Rs. 3,15,000 – Rs. 3,57,000

Rs. 78,000

Rs. 2,37,000 – Rs. 2,79,000

10kW Solar System

Rs. 5,31,000 – Rs. 6,07,000

Rs. 78,000

Rs. 4,53,000 – Rs. 5,29,000

 

What are some of the factors affecting solar panel costs for homes in Kerala?

The following are some of the factors affecting solar panel costs for homes in Kerala:

 

• Type and quality of the solar panel

• The power capacity and the physical size of the solar panels

• The cost of installation of the panel is based on the property location, roof type, and other aspects that affect the complexity of the installation

• Expense on regular cleaning, repairs, replacements, and other maintenance requirements.

• Performance guarantee and warranty of the solar panels

Benefits of the subsidy on solar panel costs for homes in Kerala

The following are a few benefits of the subsidy schemes on the solar panel costs for homes in Kerala:

 

• Reduced Costs for the Installation of Solar Panels:

The immediate benefit of the solar subsidy schemes is the decrease in the initial installation costs of solar panel systems. This makes solar power more affordable for households, encouraging more consumers to opt for it.

• Savings in Long-term:

KSEB solar subsidies result in considerable long-term savings for consumers as they experience a decrease in electricity bills by using solar energy. Solar panels decrease a consumer’s reliance on grid power when electricity prices are surging steadily.

 

Also read: KSEB Solar Subsidy in 2024

• Rise in the Value of the Property:

Presently, solar panel installations are often seen as a desirable feature for a property while buying land. Hence, subsidies on solar panel costs are expected to increase the value of many properties in the state.

• Reduced Impact on the Environment

With subsidies on solar panel costs, more consumers adopt solar power, contributing to reduced greenhouse gas emissions. Thus, subsidies promote the use of clean and renewable solar energy and the formation of a more sustainable environment.

Also read: Why renewable energy is essential?

• Energy Independence:

With solar panels, consumers would generate their own electricity. Thus, they gain some degree of energy independence. They also become less affected by price fluctuations of energy and power outages.

How can you gain the most out of the subsidies on solar panel costs?

These are some steps you can follow to gain the most out of the subsidies on solar panel costs:

1.   Research the experience of your solar provider:

Check that your solar provider is certified and has enough projects showcasing their experience with the subsidy processes. Such solar providers would verify that you meet all the technical and legal requirements for solar installations while availing of subsidy schemes.

 

Also read: Best solar companies in India in 2024

2.   Check whether you are eligible to apply for the subsidy scheme:

Thoroughly learn all the conditions set forth by the government and the solar systems coming under each scheme.

3.   Thoroughly analyze the subsidy schemes:

Learn comprehensively about the current subsidy rates and your eligibility for each scheme.

4.   Prepare a detailed proposal along with your solar provider:

A detailed proposal covering the conditions under the solar scheme you are considering, the estimated final costs after applying the subsidy, and the savings from them will streamline the process of approval and installation of the solar system.

5.   Monitor and Maintain Your Solar Power System:

By monitoring and doing regular maintenance of your solar panels, you can ensure longevity and optimization of their performance. Ultimately, this would help you gain the maximum benefits and savings from the subsidies on solar panel costs.

6.   Stay Updated on policy changes:

Be aware of any change to the government policies or schemes regarding solar installations. Try to make the most of any new adjustments or opportunities with such changes.

Conclusion:

The solar panel costs for homes under the subsidy schemes by the Kerala government have made it affordable for many residents to adapt to solar energy. Many households are realizing the environmental and long-term financial benefits of solar power and are utilizing reduced solar panel costs to maximize their return on investments in solar panel systems.