The Government of India aims to generate and use 100GW of electricity by 2030. Understanding the demand for electricity and the advantages of solar panels, the government has announced various schemes, including subsidies.
Solar panels offer an excellent solution for householders and business owners looking to generate adequate electricity for their energy needs. From agriculture to automobiles, solar energy solutions are the game changer, reducing communal electricity bills and increasing value for investment. Coimbatore is a city that accumulates the maximum tropical sunlight throughout the year. Also, being the hotspot for various business entities, factories, and manufacturing companies, the demand for constant power supply has become inevitable. Therefore, an uninterrupted power supply needs a good electricity generation source, which can be obtained from solar panel systems. Residential, commercial, and industrial spaces can benefit from solar panels from a single-time investment.
To the note of residential and commercial owners, solar panel installation in Coimbatore can now be done efficiently with the help of government subsidies on rooftop solar systems.
Schemes Introduced By the Government:
To make solar energy affordable and used to the fullest extent possible, the Indian government has introduced various schemes that help elevate the embracement of solar panel systems. Below are the lists of schemes introduced by the government.
The PMKUSUM :
The Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan scheme helps rural areas embrace solar energy. The scheme aims to install 10,000 MW solar plants and solar power pumps. The primary beneficiaries are people in agricultural occupations.
On-Grid Rooftop Solar Program:
This subsidy scheme allows the installation of rooftop solar systems in residential, institutional, and business spaces.
- For households, 40% of the subsidy can be availed from the benchmark cost up to 3KW
- 20% of subsidy can be claimed from 3KW to 10KW
Note: The subsidy cannot be claimed if the KW exceeds 10, but financial assistance is provided.
National Solar Mission:
This subsidy aims to increase the use of renewable and sustainable energies and reduce carbon dioxide emissions. It offers financial support for large-scale power generation projects, rooftop solar installations, off-grid systems, and solar pump setups.
The PBI Scheme:
This scheme benefits large-scale and business enterprises that have solar panels installed. It encourages financial encouragement based on the quantity of electricity generated by the solar systems.
Solar Energy Corporation of India:
This scheme offers financial incentives to promote the utilization of solar energy for solar parks, rooftop installations in homes or business spaces, etc.
Scheme Solar City:
The aim of the solar city scheme is to develop the use of solar energy in the country’s urban areas. This scheme is enforced by the Ministry of New and Renewable Energy (MNRE). Several cities are rolling out this scheme to benefit public places, common lights, and more.
Atal Mission for Rejunuvation and Urban Transformation:
This scheme aims to promote and develop solar energy utility in urbanized areas. A number of cities can benefit from this scheme by receiving financial support for a good cause.
Subsidy Benefits of Solar Panels:
- For rooftop solar panel installation in Coimbatore, financial support of up to 10 lakhs from national banks under the home improvement scheme can be availed.
- Solar energy users can receive money rewards based on their solar energy generation (Rs.2 per generated electricity).
- People who look to switch to renewable energy, such as solar energy, can greatly benefit from the above-mentioned subsidies. Implying the cost of rooftop solar panels would accumulate to around Rs. 60,000 to 70,000 or more than that. But when the subsidies are applied, the amount can probably land between Rs. 42,000 and Rs. 48,000.
- People using solar energy can sell excessive electricity generated and receive revenues per unit.
- The beneficiary can receive up to Rs. 2000 to Rs. 3000 based on the amount of electricity generated annually. The generation should be around 1100KWH to 1500KWH to be eligible for the amount.
A Breakdown of Subsidy Percentage:
- For a residential system type up to 1 to 3 KW – 40% of the upfront cost
- For a residential system type from 3 KW to 10 KW, 40% is for 3 KW, and 20% is for the remaining.
- For a residential system above 10 KW, no subsidy can be availed.
- For agricultural solar systems, both on-grid and off-grid systems can avail of 30% and 90% subsidies, respectively.
- For public buildings and entities – 40% of the subsidy from the upfront cost can be availed.
By reading this blog, you might have come to a good understanding of solar panel systems and the subsidies provided by the government to make full use of natural and renewable resources. To implement the solar panel installation process in Coimbatore, you will need assistance from prominent solar panel distributors to make installation easy and hassle-free. Being the top solar panel dealer, Gemini Solariss can assist you through the process and give you the proper solution for your energy demands. With over 10 years of experience, more than 100 completed solar panel projects, 100+ happy customers, and being the lead in reducing over 110 tons of carbon emissions, Gemini Solariss offers solar panel services like ground-mounted solar, rooftop solar, and hybrid solar panels, etc.
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