January 6, 2015: Ministry of new and renewable energy (MNRE) has announced that the government will provide a 15 per cent subsidy for rooftop solar PV plants. The subsidy will be provided to the beneficiaries, thus promoting the initiative, where in government aims at generating 40,000MW power by grid-interactive rooftop solar PV plants in next five years.
Reports suggest, rooftop solar PV plants will be set up in residential, commercial, industrial, institutional sectors in the country ranging from 1KW to 500KW capacity. Such rooftop plants have become economically viable as they produce clean electricity from the solar energy at about Rs 7 per KWh without any subsidy.
The department of financial services of ministry of finance has released certain directives to all sector banks who would want to help these project, financially. The directives are, “All banks are advised to encourage the home loan/ home improvement loan seekers to install rooftop solar PVs and include the cost of such equipment in their home loan proposals just like non solar lighting, wiring and other such fittings.”
Understanding the need of the hour, nearly eight banks including Dena Bank, Syndicate Bank, State Bank of India, Punjab National Bank and others have taken action and issued necessary directives to all their branches.
