On Grid Solar System For Home: Government Policy, Subsidy and Savings explained by Luminous

Описание: On Grid Solar System For Home: Government Policy, Subsidy and Savings explained by Luminous

At Luminous, it is our mission to save the planet from the evil of pollution and we have chosen to utilize solar power for the same. In order to reduce the level of carbon emissions significantly, as a country and global community, we all must come together to switch using electricity generated through burning fossil fuels and start utilizing renewable resources like solar energy. The amount of sunlight most sates in our country receive is sufficient to create enough solar power to run at least our homes. But unfortunately, the awareness levels of using solar system for home, are very low and hence most people do not opt for it.

Luminous has taken it upon itself to create awareness about using solar rooftop power and as part of an informative series covering essential concepts related to usage of solar panel for home, or purchase of solar inverter, or government policies around on grid solar system for home, launched a series of videos. In this video, expert from Luminous helps us understand Government Subsidies & Incentives related to Grid Tie Solar System Installation or on grid solar system for home.

According to the Ministry of New and Renewable Energy, the Central Government pays 30% of the benchmarked installation cost for rooftop PV systems. This subsidy is applicable in states that are in the general category. However, a subsidy of up to 70% of the benchmarked installation cost is offered in some states that lie in the special category -- North MNRE PV Rooftop Cell. These include states such as Uttarakhand, Sikkim, Himachal Pradesh, Jammu & Kashmir and Lakshadweep. In addition to this, State Nodal Agencies also offer subsidies in various states.

In addition to the subsidy, people can avail various other benefits by installing a rooftop solar system: Those planning to install rooftop PV systems can avail priority sector loans of up to 10 lakhs from nationalized banks. This loan shall fall under the category of home loan or home improvement loan. Consumers will be eligible for generation-based incentives and will receive Rs. 2 per unit of electricity generated. Furthermore, people can sell the excess of electricity. For this, they’d receive a regulated cost per unit as per tariffs set by the government.

Specifications of rooftop PV system for the subsidy scheme
-Approximately 100 square feet of space is required for the installation of the rooftop PV system.
-The average cost of installation of rooftop PV system without subsidy is around Rs 60,000 - 70,000.
-After leveraging 30% subsidy, people just have to pay Rs 42,000 - 49,000 for installing a rooftop PV system.

In order to avail generation-based incentive, the customer should generate 1100 kWh - 1500 kWh per year. Under the scheme, a customer can earn up to Rs 2000 to 3000 per annum as generation-based incentive.

About the Brand: Luminous Power Technologies is a powerful and trustworthy brand with a wide range of innovative products in the power backup, home electrical and residential solar space that covers, Inverters, Batteries, Solar solutions to home electrical offerings such as Fans, Modular Switches and LED lighting. Luminous has been in business for 30 years now. It has 7 manufacturing units, more than 28 sales offices in India and presence in over 36 countries. Our 6000 employees serve more than 60,000 channel partners and millions of customers.

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For more information, please visit our website: https://www.luminousindia.com/. This video is for information on various government policies and subsidies for setting up solar system for home. For more tips, installation and maintenance related information, subscribe to our YouTube Channel.

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