Can I Get a Loan for My Solar System?
As mandated by the Reserve Bank of India, you can now get a bank loan of up to Rs. 10 lakhs on low interest for installing a rooftop solar system. This is because the renewable energy sector in India now falls under priority sector lending status.
System vendors also at times tie up with banks or private financing institutions to provide loans on purchasing rooftop solar systems.
Your system purchase cost can be paid off in EMIs (equated monthly instalments), or through the savings on your electricity bills. You can discuss this option with your bank and/or vendor.
Click here to read more about solar financing options.