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.