Solar Subsidy: It’s An Endless Wait. Go Solar Now!
Solar power projects became the in-thing after the government in its ambitious plan to establish India as a global leader in solar energy. So when the Indian Government said they wanted to promote the installation of rooftop solar on homes by creating favourable policy conditions — people believed them. Hoping to make hay, a host of residents opted for solar photovoltaic power plants only because there was an announcement of subsidies. However, the subsidies on offer that initially were the largest driver in the surge in solar power expansion soon hit a plateau. Instead of a waiting period of one month a month after they paid the entire cost of the solar plant (as per norms), residents found themselves waiting in vain for nearly a year for the subsidy amount to be deposited in their account!
The ordeal to pursue the matter was frightening. The payment of subsidy never turned out to be a smooth affair, with most prosumers having to wait for months to years for financial assistance after system installation. Solar subsidy by the government turned out to be a big joke and left most consumers and the sector in the dark. The delays in disbursement of subsidies–at the Central and State level–left consumers fuming with anger and frustrated. Yet the delays with subsidy allotment continue. No wonder, today, despite the fall in panel prices, customers are not willing to opt for solar power, because their mood has changed since then.
The Centre for Science and Environment (CSE) released its annual report on India’s Renewable Energy Situation in mid-January 2019. Of notable interest is the statement: ‘Although India has set itself a massive goal of 40 GW of a solar rooftop by 2022, only 3.4 GW had been installed till September 2018 — most of it by commercial and industrial customers, as the government has not promoted it with the right set of policies.’ The clearly is a devastating assessment of the government’s inefficient policies and their poor implementation. Only 3.4 GW have been achieved!
So, is waiting for disbursement of financial subsidies from the government really worth it, or should you opt for solar now without wasting any time?
Read on to why you should opt for solar now.
State Solar Subsidy is Depleted
As of date, many states have already exhausted their subsidy allocation capacity, so chances are slim of getting any benefit. If you plan to go solar, you will now have to wait for a new scheme to avail any kind of subsidy for solar power plant installation. Moreover, there is also a strong possibility that they would have no choice but to halt the freebies once the elections are done. So, don’t wait for the government to try to fix their horribly broken solar rebate scheme, as every day that passes is burning a hole in your pocket.
Time is money
If you wait for government subsidies, the losses you would experience by not going solar while waiting for subsidies will outweigh the profits you will make after installing solar. Obtaining financial benefits takes a long time due to multiple inspections and documentation from electricity departments. Instead of the time, it takes to install a solar power plant, this time may be used to install a solar power plant.
We Pay For The Amount Of Your Subsidy
Given the delayed subsidies and sluggish implementation, it is difficult to see the residential rooftop segment taking off in a meaningful way in the near future. So, if you — as solar fans — are smart about your energy consumption, for God’s sake stop wasting your efforts in trying to procure solar subsidies. If you too strongly believe that the Solar sector needs to stand on its own two feet without subsidies of any kind from the government Contact Us to buy your solar asset and we will bear the entire cost of your solar subsidy from our own pocket.
Use Our EMI Scheme
If you believe that you will be unable to build a solar power plant on your roof without financial assistance, we can assist you by providing you with the most cost-effective financing alternatives. You might be eligible for an EMI facility with no collateral, which means you can pay for your solar asset in affordable monthly installments. At, Sanchay New Age Developers Private Limited, we make sure that the bulk of your EMI is covered by savings.
Going solar is the best decision to make your family energy-independent with financially rewarding results. Every minute you delay your solar decision is one another minute that you miss out on the financial benefits your solar energy system provides (this is called your opportunity cost). In fact, your potential savings in upfront costs could be outweighed by solar’s financial benefits. So begin your solar journey with Sanchay New Age Developers Private Limited and you’ll never regret this minute.
What in the world are we waiting for?