Government solar panels subsidy scheme for rooftop systems
subsidised areas for solar panels projects belonging to below sectors.
NVA SOLAR SYSTEMS OFFERS YOU FREE CONSULTANCY ON PRE SUBSIDY OF SOLAR PANELS SYSTEM, LIASONING DOCUMENTATION AND THEIR SUBMISSION IN AUTHORITIES.
State Nodal Agencies (SNAs) along with Central Government offers subsidy schemes to citizen for installing rooftop PV solar systems to encourage people to exploit renewable energy and to cut their electricity bill. Though the upfront cost of installation of a rooftop PV system is high, it is inexpensive in the long run when compared to electric generators. After rooftop installation of PV systems, they don’t need any other expenses as they use solar energy instead of fossil fuels.
According to the Ministry of New and Renewable Energy (MNRE), 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. Some states that listed in the special category and a subsidy of up to 70% of the benchmarked installation cost is offered in these states by 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.
This subsidy scheme is applicable for institutional, residential and social sectors. However, it is not applicable to the commercial sector, industrial sector and public sector undertakings. PSUs are eligible to avail incentives on the basis of energy generation.
Other offers/ subsidy of the government for installing a rooftop PV panels solar system
Except 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 receive Rs 2 per unit of electricity generated as generation-based incentives.
- 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.
Source of information: https://economictimes.indiatimes.com (15 May 2019)
Accelerated depreciation & tax benefits for commercial and industrial sectors
The use of solar panels is promoted by the department of The Ministry of New and Renewable Energy (MNRE) through different programmes. i.e. Rooftop Solar Programme for residential, commercial and industrial buildings. With a goal of reaching 175GW (17,50,00,000 kilowatt) of green energy by 31 March 2022, the Government of India has indeed shown a keen interest and ambition towards promoting the use of green energy.
There are tax incentives offered by the government of India, for the commercial and industrial solar users. To promote the use of solar power in the commercial and industrial sectors, the government of India offers accelerated depreciation of fixed assets equated with the solar power plant, the current rate of acceleration is 40% that can be claimed in one year.
Warning and Disclaimers
* Submission of subsidy or liasoning documents are conducted by NVA Solar Systems only at the behalf of client.
** Appropriate authorities hold full rights for approval of subsidy or liasoning, NVA Solar Systems bears no responsibility in case of negative results.
*** Client bears all the official expenses related to submission of subsidy/ liasoning documents, net meters etc.