The Indian government has extended its solar subsidy scheme until April 2024. This was announced by the Union Minister for Power and New and Renewable Energy, R.K. Singh. The extension of the solar subsidy scheme is a welcome move, as it will encourage more people to adopt solar energy. Solar energy is a clean and renewable source of energy that can help to reduce our reliance on fossil fuels and save money on electricity bills
Soura Subsidy Scheme Extension :
The Ministry of New and Renewable Energy (MNRE) has already completed 140 MW of solar projects under the Soura subsidy scheme. The scheme has been extended until April 2024, with a target of 200 MW. This means that the Soura subsidy scheme, which provides financial assistance to individuals and businesses who install rooftop solar panels, has been extended for an additional year.
Affordable 3KW and 5KW Subsidies :
The Soura subsidy scheme aims to make solar energy more affordable and accessible for homeowners, encouraging the adoption of clean and sustainable energy sources while reducing the overall cost of solar installation for residential customers.
The actual cost of a 3 kW solar plant is Rs. 1,90,500. However, with the KSEB subsidy of Rs. 43,764, the customer’s payable amount is just Rs. 1,46,736 Only!
The actual cost of a 5 kW solar plant is Rs. 2,57,039. However, with the KSEB subsidy of Rs. 58,352, the customer’s payable amount is just Rs. 1,98,687 Only!
Benefits of the Soura Subsidy Scheme Extension:
The extension of the Soura subsidy scheme has a number of benefits, including:
Increased adoption of solar energy:
The extension of the subsidy will make it more affordable for people and businesses to install solar panels, which will lead to increased adoption of solar energy.
Reduced reliance on fossil fuels:
Solar energy is a clean and renewable source of energy, so increased adoption of solar energy will help to reduce our reliance on fossil fuels. This has a number of benefits, including reducing greenhouse gas emissions, improving air quality, and creating jobs in the renewable energy sector.
Reduced electricity bills:
Solar panels can generate electricity for free, so once the upfront cost of installation has been paid off, homeowners and businesses can save a significant amount of money on their electricity bills.
Increased grid stability:
Solar energy can help to increase the stability of the electricity grid by providing a reliable source of power during peak demand periods.
The extension of the Soura subsidy scheme is a positive development that will have a number of benefits for the region and its residents. If you are considering installing a rooftop solar panel system,
Kondaas is regarded as the best solar company in Kerala. Being a leading solar company in a region like Kerala, which receives ample sunlight throughout the year, is a significant achievement. Providing reliable and efficient solar energy solutions can have a positive impact on the environment and help reduce electricity costs for individuals and businesses. If you have any questions or need assistance with anything related to solar energy or your business, feel free to ask, and we’ll be happy to help!
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