Financing & Loan
Net-metering allows you to import/export electricity from the grid when you have a rooftop solar (“on‐grid”) system. Some important points:
Key Loan / Financing Schemes for Solar Installation
PM Surya Ghar: Muft Bijli Yojana
- o ILaunched by the central government to install rooftop solar on 1 crore households. ClearTax+2Business Standard+2
- o It explicitly mentions loan facilities: through the portal JanSamarth Portal borrowers can apply for loans for rooftop solar as part of this scheme. Energetica India+1
- o Key features: up to ~3 kW system subsidy, and low‐interest or streamlined loans for eligible households. ClearTax+1
Priority‐Sector / Bank Loans for Rooftop Solar
- o Large public sector banks and nationalised banks provide “priority sector” loans for rooftop solar installations in households. For example: “those planning to install rooftop PV systems can avail priority sector loans of up to ₹10 lakhs from nationalized banks”. The Economic Times
- o Typical conditions: loan may cover a significant portion of the cost (60-90% of installation cost) and offer tenures of several years. enphase.com+1
Vendor/Bank Tie‐ups & Digital Portals
- o The JanSamarth portal supports end‐to‐end application for subsidy + loan in one place under certain schemes. Energetica India
- o Solar financing articles note: “Loan amount: 60%–90% of the solar rooftop cost … tenure 6 months to 84 months (or more if combined with home‐loan)”. enphase.com
What to Check / Know Before Taking a Solar Loan
- Loan amount vs system cost: Many loans cover 60-90% of the cost, meaning you still need to contribute the balance. enphase.com+1
- Interest rate & tenure: These vary by bank, scheme, and whether you use collateral/home loan tie-up.
- Subsidy interplay: Subsidies (under e.g., PM Surya Ghar) reduce your net cost, and you should check whether the subsidy is credited before or after the loan disbursement. Buddy Loan+1
- Vendor & equipment approval: Must use empanelled vendor(s) as per the scheme; ensure eligibility for subsidy and loan both.
- Net-metering & grid connection: If you plan to export surplus solar power, check the local utility’s net-metering policy and how that affects your savings.
- Roof suitability & load requirement: Banks may scrutinize technical feasibility (roof strength, shading, capacity) before approving loan.
- State vs central differences: While central schemes apply broadly, many states have additional incentives or distinct loan/subsidy combinations.
Tailored for You (in Gurugram / Haryana)
Make sure the local DISCOM (for example Dakshin Haryana Bijli Vitran Nigam or whichever covers your area) has approved net‐metering and the scheme (check the state policy).
Ask local banks regarding their solar rooftop loan offering—mention you plan to apply under the PM Surya Ghar scheme so the bank knows about subsidy + loan combo.
• Confirm whether the subsidy will be credited directly to your bank account or adjusted via loan.
Check for any state‐level additional subsidies or incentives in Haryana that might reduce your loan burden further.
If you like, I can look up specific banks in Haryana/Gurugram offering solar rooftop loans (with interest rates, tenure, and special features) and show you a comparison. Would you like me to do that?