fbpx
Fenice Energy logo
Reading Time: 3 minutes

हिंदी में पढ़े

How Much Would it Cost to Go Solar? Are There Any Subsidies Available?

Solar is a good way of producing free electricity capable of not damaging your bank account. As a result, home solar systems have been installed in several homes and enterprises. It will take a while before traditional energy sources are replaced by solar.

A 3kW solar panel system is adequate to generate power for a small home or business premises. The question you can ask is, how much electricity does a 3kW solar system generate? The length of the 3kW solar system will range from 8 to 11 solar panels. The 3kW solar panels typically generate power units per day up to 12kWh when it is bright. Hence, when it is a month, in 30 days, you will have 12*30=360 kWh.

Solar Panel Subsidy Calculation Parameters

Assuming you are using a high-quality solar panel, 1kW solar system typically ranges between ₹60,000 and ₹70,000. It is an estimate, the actual values will differ from the region and the installer type you choose. Therefore, a 5kW solar system will cost you ₹3,00,000 (₹60,000 * 5 kW).

India has established a National Subsidy Scheme, and a National Portal for Rooftop Solar was launched on the 30th of July, 2022. The file below shows how the administration of each state works out the incentive .

System Capacity Subsidy Available
Up to 3 kW ₹14,588/kW
Above 3 kW and up to 10 kW ₹14,588/kW for the first 3kW; thereafter, ₹7294/kW
Above 10 kW ₹94,822 fixed

*All such information like pricing, detailed cost, ROI, etc., is based on broad understanding of the user. Please consult your authorised financial advisor before making financial decision. Fenice Energy does not intend to provide any financial advise or undertake any liability.

Eligibility Criteria to Get Solar System Subsidy

There are 3 main eligibility criteria to get the solar system subsidised. You can avail of the solar system subsidy by using Indian made panels approved by MNRE, Ministry of New and Renewable Energy.

It’s only for On-grid solar and Hybrid solar systems. If you are a homeowner, you can get a subsidy from residential solar projects upto 10kW.

Hence, total estimated cost of solar systems after subsidy is as follows:

Capacity

(kW)

Estimated Cost (₹)

(excluding subsidy)

Applicable Subsidy (₹) Estimated Cost (₹)

(including subsidy)

3 kW 2,00,000 43,764 1,56,236
4 kW 2,50,000 51,058 1,98,942
5 kW 3,00,000 58,540 2,41,460
10 kW 6,00,000 94,822 5,05,178

*Note: Tax is not added in the above calculation 

MNRE sends the energy subsidy directly to your bank account after 30 days of your local electricity distribution company (DISCOM) inspection. No waiting, no more complicated subsidies, you can enjoy hassle-free clean energy.

*All information like pricing, detailed cost, ROI, etc., is based on broad understanding of the user. Please consult your authorised financial advisor before making financial decision. Fenice Energy does not intend to provide any financial advise or undertake any liability.

Check out more blogs

A Comparison of Solar Panels and Solar Water Heaters
A Comparison of Solar Panels and Solar Water Heaters...
The Resilience of Solar Panels During Cyclones
The Resilience of Solar Panels During Cyclones India...
Energy Crisis: Solar Solutions for North India in 2023-24
Energy Crisis: Solar Solutions for North India in 2023-24...
banner-solar-battery
Navigating the World of Batteries and Their Capacities...
The Power of PERC Solar Technology
The Power of PERC Solar Technology Introduction In...
Clean Energy Logo

30/5, First Floor, 1st Cross Street, RA Puram, Chennai - 600028, Tamilnadu.

Social

© Fenice Energy 2023

Please enable JavaScript in your browser to complete this form.
Please enable JavaScript in your browser to complete this form.
Please enable JavaScript in your browser to complete this form.
Full Name
Please enable JavaScript in your browser to complete this form.
Full Name
Please enable JavaScript in your browser to complete this form.
Full Name