Solar Subsidy In India
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Solar Subsidy In India 2024
To boost the usage of solar energy in the residential sector, India has a solar subsidy programme in place. It reduces the financial burden of installing solar panels, by providing financial assistance to consumers.
With this incentive, residential consumers can save up to 40% of their installation cost. Moreover, individuals from across the country can apply for these grants. But how much is the incentive and how can individuals claim it? Let’s understand it further.
Solar Subsidy in India for customer
Uninterrupted Power
Customers in remote locations can access reliable solar power independent of grid availability and blackouts through off-grid systems.
Tax Rebates
Solar customers can avail accelerated depreciation tax benefits and claim rebates on customs duties when importing solar equipment. This enhances return-on-investment.
Quicker Payback
Combined benefits mean customers can achieve payback on solar systems in 3-5 years in many cases as opposed to 10-15 years earlier. This encourages faster adoption.
Steps to Avail the Subsidy
01
Confirm Eligibility
Verify solar project meets subsidy criteria: size, location, consumer category.
02
Identify Documents Needed
IDs, address proof, bills, system cost breakdowns, specs for subsidy application.
03
Submit Application Package
Prepare, compile, and submit required application materials via designated program channels.
04
Track Application Status
Received, under review, approved/rejected. Contact officials for timely processing.
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