The Background

In January 2020, the Maharashtra State Electricity Distribution Company Limited(MSEDCL) had submitted a proposal to the Maharashtra Electricity Regulatory Commission(MERC), seeking to levy additional grid support charges on the rooftop solar consumers of the state. MERC has now rejected this proposal.

What were the Proposed Grid Support Charges?

As per the proposal submitted by MSEDCL, the distribution company proposed to impose additional Grid Support Changes for net-metering facilities on consumers using Rooftop Solar systems above 10 kW. The charges suggested were prodigiously up to INR 8 for both LT and HT power consumers. The charges were reasoned to be necessary by MSEDCL in order to support the infrastructure the company deploys to facilitate net-metering technology for rooftop solar consumers across the state of Maharashtra.

Why did MERC Reject the Proposal Submitted by MSEDCL?

As per the reports, the proposal was declined to help the state achieve its rooftop solar target, wherein the commission intends to impose no charges until the state installs 2000 MW of rooftop solar capacity. The secretary of MERC Mr. Abhijeet Deshpande has been quoted saying - “The idea is to boost clean energy and overall solar installations. Over the last six months, we have taken multiple actions for this, and this is one of the overarching steps strengthening that cause. Once we achieve this target, the commission will take a call on what charges can be levied.”

The Proposed Charges as Approved by the MERC

While the grid support charges have been removed, to remunerate MSEDCL, the commission has approved energy banking charges in the form of energy adjustments. The charges approved are 7.5% for consumers with high tension load and 12% for consumers with low tension load. Therefore, as per the charges, if a consumer banks 100 units of power with MSEDCL, the consumer will get compensated with only 92.5 units in case of high tension load, and 88 units in the case of a low tension load.

MYSUN's Take on the MERC Approach

At MYSUN, we believe that enhancing the commissioned solar capacity has a very crucial role to play when it comes to building a sustainable and prosperous nation. And positive solar policies become fundamental to this mission. MERC’s decision is one step towards the formulation of a positive solar policy for Maharashtra. MERC has found a sound resolution that keeps both the consumers and the distribution company happy. With an installed capacity of 426 MW, Maharashtra is some distance away from its ambitious target of 2000 MW. However, propelling and encouraging decisions like these, by MERC will definitely help roll the ball faster.

 

In March 2018, MYSUN commissioned a 231kW rooftop solar project for a Label Printing company based out in Gurgaon. Post commissioning, the owners of the company saw a dramatic reduction on their monthly electricity bills and estimated to save over 7 cores on their power expenditures throughout the 25 years of their solar journey. Installing this solar system proved so beneficial that the owners decided to expand their installed solar capacity by installing 119kW more. Now they stand to save more than 15 crore rupees with solar in this 25 year period.

With the above example, it is easy to access the viability of solar for any business in India. But other than this, what are the other specific reasons that signal towards the viability of solar for businesses based out in Punjab, which finds itself in close proximity of Gurgaon, Haryana? Let’s take a look at them down below:

1. Solar Energy Potential of Punjab

Punjab lies in the same geography as Haryana and experiences from 230 to 300 sunny days in a year. That gives enough sunny hours per year for businesses based out in the state to generate electricity from solar for all their power needs. The potential of solar in the state can also be understood from the solar installation target set by the state. As per a renewable energy policy draft proposed by the government of Punjab in October 2019, the state is eyeing at installing a total of 3000 MW of solar power projects by the year 2030.

You can run the MYSUN Solar Calculator now and check the solar potential of your business in Punjab today.

2. Increase in of Solar Energy Installation Capacity in Punjab

The solar energy installation in the state of Punjab has been at a consistent rise across sectors since 2012. As per this tracker, the state has witnessed over a 100x growth in the installed capacity of rooftop solar systems; from zero in 2010 to 136.4 MW till 2019. Given that solar systems require sizable investment and that the cost of going solar was way higher ten years ago than what it is today, this growth in capacity demonstrates the acceptance of solar by the consumers in the state and its benefits being experienced by them.

Rooftop Solar Energy Commissioned Capacity in Punjab

3. Favourable Solar Policy of the State

Like most Indian states, Punjab has a very favourable solar policy for its commercial and industrial power consumers. Punjab’s Solar Policy qualifies its commercial and industrial consumers who go solar, to avail 40% accelerated depreciation on the solar system cost. The policy also allows custom and excise duty concession on solar equipment and a 10 year tax holiday on solar projects. The policy gives an avenue of a solar loan of up to INR 15 Crore for renewable energy projects under the priority sector lending. With the state's net-metering policy, businesses can also sell the excess generated electricity to the DISCOM as per the specific tariff rate defined in the policy.

4. Frequently Increasing Electricity Tariff in Punjab

Electricity tariffs follow the upward trend and it has been increasing in Punjab as well. As per media reports of January 2020, the Punjab State Power Corporation Limited has filed a petition with the state power regulator seeking a 14% hike in electricity tariff for consumers in the state. The hike is likely to be announced in the upcoming month of April 2020. A similar hike of approx. 2.15% was imposed just last year affecting consumers across categories. Tariff increases, even by a minimum percentage, might not affect domestic consumers by much, but owing to the high power consumption of commercial and industrial categories, they increase electricity expenditures by lakhs every year. Thus, impacting the bottom line as well. Going solar freezes such tariffs hikes, giving business owners some stability in business expenses.

5. Positive Growth Potential for Businesses in Punjab

As per a report from the Indian Brand Equity Foundation, Punjab has the easiest procedures to set up a business. It is a key hub for textile-based industries including yarn, readymade garments and hosiery. Its capital city Chandigarh has evolved to be a top spot for the booming IT and Education industries in the state and its cities like Mohali, Ambala, Panchkula, etc has become a fertile place for SMEs and MSMEs of every category. With the state's annual GDP of around 6%, the state has a lot to offer as an opportunity for business enterprises. And as businesses grow in the state, power will become a crucial expenditure. With solar, businesses can save up to 80% of this expenditure and use those savings to speed up their growth further.

Why Go Solar With MYSUN in Punjab?

MYSUN is the largest online rooftop solar platform and the most trusted solar partner for businesses in India. It has proven excellence in designing, installing and maintaining solar projects of SMEs, MSMEs and large corporates across India. With the focus on the end-to-end solar solution and world-class engineering, MYSUN Offers a one-stop solution for your rooftop solar needs in Punjab. Through MYSUN Solar Financing, the company is making solar easy for every business under the sun. MYSUN’s local presence in Punjab, with an office in Chandigarh, makes it the perfect solar partner for your business in the state.

Get in touch with MYSUN Solar Advisors today. Call +91 8448380218 or write at [email protected]

MYSUN’s blog series on the Interesting ways the world is using Solar Energy has in the past explored the various innovations in solar technology, such as solar boats, cars, robots, paint, and even airships. Although all these innovations are great and have pushed the envelope of global solar technology, there has always been one caveat when it comes to solar – how do you generate solar energy at night?

There may finally be an answer:

Solar Panels That Work at Night

Jeremy Munday, a professor in the electrical and computer engineering department of the University of California, Davis, recently appeared in the news for discovering a way to generate electricity from solar panels even after the sun has set. The professor and researcher have been working on a solar panel prototype which in its current phase of R&D can produce 50 watts of electricity per square meter, which is about a quarter of what traditional solar panels can generate during a bright sunny day.

How Does This Technology Work?

As per Professor Jeremy Munday, "A regular solar cell generates power by absorbing sunlight, which causes a voltage to appear across the device and for the current to flow. In these new devices, light is instead emitted and the current and voltage move in the opposite direction, but you still generate power. You have to use different materials, but the physics is the same."

These solar panels are made of thermo-radiative cells to facilitate the process, as the heat required to run the process can be gathered from the leftover heat of industrial processes, as per Professor Munday.

What Does This Mean for the Future of Solar Energy?

If successful on a commercial scale, this newly discovered technology will mean that solar panels will become functional 24x7, which will enhance the benefits of solar. As of today, a consumer saves up to 80% on electricity bills by generating power during the day, and transmitting surplus energy generated back to the grid through net-metering and then drawing this energy back during the night.

With this new technology, there is a likely possibility that solar energy will become the primary source of energy, and may help consumers save close to 100% on electricity bills.

MYSUN’s Take:

While the development of these night sky solar panels is still at a very nascent stage, the fact that the prototype developed so far is already capable of generating 50 watts of electricity per square meter is very interesting. The potential of solar energy as a primary source of power for the world was never in question at all. But, something like this could potentially improve the interest manifold. This innovation seeks to break the limitation and is on its way towards unleashing the potential of solar even further. We can’t wait to see how the development proceeds further.

Success stories of savings from solar, like this one in Times of India are becoming more common day by day as large scale Corporates, Industries and Institutes become aware of the immense potential. To be able to save Lakhs of Rupees every year and then inject it back into the business for growth is a dream of every business owner.

The best part is, going solar will help you consistently save for a period of next 25 years. With a little maintenance regularly performed, your solar system will be a cash cow on your rooftop as you make use of space, that was lying idle. Geographically, India is perfectly placed to receive 300+ sunny days helping improve the yield. Chandigarh, the capital city of Punjab and Haryana has fantastic solar potential aided by some very positive solar policies.

How will Businesses in Chandigarh Profit with Solar?

Chandigarh is a hub of both small and large scale businesses. They tend to have a high monthly power requirement. To fulfil this requirement with sole dependence on the electricity grid, they pay Lakhs every month. However going solar can help businesses save a huge fraction of this money in fact, sometimes as much as 80% of the expenses on power every month as shown by numerous solar projects commissioned by MYSUN in India.

Chandigarh has a thriving economy and also a tremendous solar generation potential. As aforementioned, with more than 300 sunny days that the city experiences, going solar is an undoubtedly financially rewarding decision for businesses of all sizes and scope; be it from the IT, manufacturing, electronics, pharmaceuticals, machine tools or plastic industry of the city.

How much will your Business Save with Solar in Chandigarh and How?

When you solarize your business, the power generated through the solar system becomes the primary source of power for your business. Therefore, during the day when your solar system generates enough electricity to fulfil your business’s power requirements, your business saves the electricity tariffs that it would pay to the DISCOM, i.e around INR 7.5 - the approximate electricity tariff for the commercial and industrial category in Chandigarh. If your solar system is connected to the grid, any excess energy generated by the solar system can be transferred to the grid, via Net Metering, against the solar tariff which is at around INR 3.6 for Commercial and Industrial category in the city.

With this process, your business can reduce a major portion of its monthly electricity bill. You can get a quick estimation of your solar savings by running the MYSUN Solar Calculator.

Estimated Solar Savings of an Industry in Chandigarh with 10 Lakh Monthly Power bill

How can you Go Solar in Chandigarh with MYSUN? The Benefits You can avail.

MYSUN is the largest online rooftop solar platform in India and has made the solar journey easy for hundreds of MSMEs and SMEs across the country. With MYSUN’s end to end solar solutions ranging from Solar System Designing, Solar System Installation, Solar Financing and Solar System Service and Maintenance; businesses get answers to all their solar needs under one roof. Moreover, with the plethora of information about solar available on MYSUN’s online platform www.itsmysun.com, such as Solar FAQs, Solar Blog, and Solar Policies, businesses have an opportunity to research in-depth and make an informed decision, before going solar.

To install a solar system with MYSUN in Chandigarh or its adjoining cities like Mohali, Patiala, Panchkula, Ambala, Zirakpur, Sahibzada Ajit Singh Nagar, Manimajra or Rupnagar, get in touch with our solar advisors by calling us on +91 8448380218 or writing to us at [email protected]. Our solar advisors will guide you through your solar journey seamlessly.

“We are excited to have started reaping the benefits of solar energy and expect to significantly reduce our monthly electricity bills. With this well-engineered and premium quality solar system installed by MYSUN, we are sure to save more than Rs 7 crores over the next 25 years just on our electricity costs. And it makes us proud to make our contribution to a cleaner environment.” - Rajesh Chadha - Director, Update Prints.

The financial viability of solar has been tried, tested and experienced by businesses across the globe. And the above statement from MYSUN’s reputed client, Mr Rajesh Chadha - the business owner of a leading Label Printing company in Gurgaon, reinstates this belief. Going solar benefited the company to improve its profits and it is no surprise that they have opted to go solar again, enhancing the overall capacity and therefore savings.

Let’s evaluate the scenario once again.

Power Requirement & Expenses of the Company Before Going Solar

Being in the business of large scale label printing, electricity expenses make for a sizable expense for the organization. Most of the company’s daily power requirement was fulfilled by drawing electricity from the grid. The average monthly units consumed by the company stood somewhere around 41,884 units, for which, the company incurred expenses of around INR 3 Lakh every month and close to INR 36 lakhs a year.

After Solar - Big Savings with MYSUN

The company decided to install a 231 kWp solar plant custom-designed by MYSUN to cater to the specific power requirements of the company in the premise of saving Lakhs. Post commissioning of the plant, the company was able to bring its power bill down from an average of INR 3 Lakh per month to about INR 2 Lakh per month. The decision to invest in solar, aided with MYSUN’s immaculate engineering and diligent service, paid off for the company, as they saved around INR 10~12 Lakhs during the first year of its solar journey.

Savings on Monthly Power Bills After Installing the First Solar System

After Solar - The Company Installs its Second Rooftop Solar System

Having experienced the financial viability of solar first hand, the management of the company decided to enhance its solar capacity by installing a second solar system of 119 kWp size. With this addition, the company has now increased its solar saving potential from approx. INR 1 lakh per month to approx INR 1.55 lakh per month. Thanks to the expanded solar capacity, the company is now eyeing at saving around 15 crores in the next 25 years of its solar journey.

Savings on Monthly Power Bills After Installing the Second Solar System

Solarize your Business and Save Crores Just like Rajesh Chadha in Gurgaon

The results from solarizing, as presented by the above case-study, shows the savings potential of hundreds of commercial and industrial enterprises based out of Gurgaon, Manesar, Panipat, Sonipat, Karnal, and other industrial hubs in Haryana. In fact, why just Haryana, throughout India. Going solar today is a strategic investment decision for businesses around the country, and is a risk-free option which fulfils businesses’ indispensable need for power with an assured Return on Investment.

MYSUN, India’s largest online rooftop solar platform, is proud to be able to partner with MSMEs and SMSEs across the nation to facilitate their solar transition with a range of holistic solar solutions such as Solar Engineering and Designing, Solar Installation, Operation and Maintenance and Solar Financing.

Just before the budget announcement, January ended with some good news for MSMEs who are planning to go solar in Gujarat’s Manufacturing sector. The Micro, Small and Medium Manufacturing Enterprises in the state can now install solar systems above their sanctioned load. The Gujarat solar policy, which earlier had a capping of 50% of the sanctioned load on MSMEs installing rooftop solar, was removed after much consideration including a public redressal. The removal, however, comes with a catch. Let's take a look at it along with the other amendments announced by the Gujarat Electricity Regulatory Commission (GERC) on 23rd January 2020, below:

The Good:

1. The commission has revoked the capping of 50% for manufacturing enterprises falling under the MSME segment, which earlier prevented MSME Manufacturers in the state from installing rooftop solar systems more than 50% of the sanctioned load.
2. Similar to the MSME Manufactures of the state, the limitation on the solar system size has also been removed for the residential consumers in the state, which earlier stopped them from installing a system above the sanctioned load.
3. The capping of the cumulative capacity of solar PV systems allowed under a particular distribution transformer has been given relaxation in the amendments. The capacity has now been increased to a transformer’s full capacity over the earlier limitation of 65% of the total capacity.

The Bad:

1. Even though the commission, in its amendment, has removed the installable solar system size capping for MSME Manufacturers, the commission has not included other industries in it. The prevalent capping of 50% of sanction load will continue to be effective in other MSME industries in the state.
2. The rate at which the surplus energy generated from the solar system is transferred to the DISCOM via net-metering has now been reduced to INR 1.50 ~1.75 per unit from INR 6.5 per unit for all MSMEs including manufacturers. This change will have a severe impact on the benefits of net-metering for consumers in the category impacting their savings from solar.
3. The removal of the installable capacity cap for the manufacturing industry in the MSME segment has been made subject to a 15 minutes settlement mechanism. Under this, for the enterprises installing a rooftop solar system above 50% of the sanctioned load, the energy accounting will be carried out on 15 minutes time block basis instead of a monthly basis. So, solar generation during non-operational days or non-operational hours within a day, when there is less or no consumption, would be credited at 1.5~2-0 Rs/unit instead of 6.5 Rs/unit(the earlier solar tariff), thereby cutting down on solar project Return on Investment and increasing Payback period.
4. The rate of transferring surplus energy to the DISCOM has also been reduced for residential consumers in the state to INR 2.25 per unit, thereby will affect their savings as well.

MYSUN Take -

The amendment released by the commission is no doubt ambivalent in nature. While on one hand, the commission has omitted the capping on the installing capacity for manufacturing category, on the other hand, it has brought no relaxation to MSMEs falling in other categories. The reduction of solar tariff from the earlier equivalent to electricity tariff has further diminished benefits an MSME or a residential consumer can avail by going solar. Amendments with conditions as such are set to slow the acceptance of a clean source of energy that solar is. The provisions made do seem to make efforts to increase the capacity of solar energy in the state but then holds the potential back with many restraints.

Recently the state of Maharashtra was infamously in the news for its attempt to roll back the net-metering facility for large-scale consumers in the state. The dust had barely settled and now there is another proposal by the Maharashtra State Electricity Distribution Company Limited (MSEDCL) which seeks to levy additional grid support charges for net-metering on rooftop solar consumers with system size above 10 kW.

The Charges as Stated in the Proposal

For rooftop solar consumers, under net metering or net billing arrangement, MSEDCL has proposed to charge an additional of Rs 4.46/kWh to Rs 8.66/kWh for residential customers, Rs 5.06/kWh to Rs 8.76/kWh for commercial customers and Rs 3.60 to Rs 4.08/kWh for Industrial customers.

For rooftop solar consumers, not opting for net metering or net billing arrangement, the DISCOM has also petitioned to impose heavy additional fixed/demand charges.

The details can be found on https://www.merc.gov.in/

Reasons for the Proposed Charges - As per the DISCOM

The DISCOM has stated that the charges are to avert the adverse effect of the net-metering facility, which increases the infrastructure and operational costs as a result of the reduced demand for grid power.

1. As per the MSEDCL, the under-recovery of infrastructure cost that the DISCOM has to incur in order to sustain and support the net metering mechanism passes the burden on the remaining non-solar consumers. The cost should, therefore, be shared with the rooftop solar customers who are availing net-metering which is enabling them to profit from solar.
2. LT/HT Commercial & Industrial customers form a major chunk of MSEDCL revenue. With them adopting solar, the demand for power from these segments is at a considerable decline.
3. The self-sufficient nature of solar systems reduces power demands during the day but increases the demand considerably during the night. Hence, even though the DISCOM has to limit thermal generation for half a day they have to keep the network and generators ready to meet the demand in the night. This obligates the DISCOM to pay a fixed cost to generators, which is an unrecovered expense at DISCOM's end which they have petitioned to pass on to the solar customers.

MYSUN’s Take - What will be the Impact on Consumers if the Proposal is Accepted?

MERC, in its draft policy issued in December, proposed to withdraw net-metering from Commercial and Industrial consumers. This was followed by very strong criticism from MYSUN and other stakeholders of the industry and was later retracted in January when MERC issued the final policy.

We at MYSUN believe that the proposal presented by MSEDCL, just like the earlier MERC draft, is not in alignment with the country’s or the state’s solar vision. Maharashtra aims to achieve 12 GW of solar power capacity by the year 2022. Such proposals, if accepted & appreciated, will discourage SMEs/MSMEs, other Commercial, Industrial and even residential customers from considering solar, and will put a complete stop & ignorance to the state’s solar goals. Add unfavorable policies to a sector that is already grappling with several issues, not limited to GST and quickly changing global landscape including an Anti-Dumping duty, this surely is not a good news.

“Going solar is a viable investment opportunity, but currently, my business is not in a position to freeze a fraction from the Working Capital in a solar system”.

This is exactly how plenty of our conversations with business leaders would go, a couple of years ago. We have in fact, in the past been quite vocal about the need for strong financing in order to make a good business case for the C&I segment to go solar. This would eventually prove to be the launchpad of MYSUN Deferred Payment Agreement (DPA). Conceived with MYSUN’s core vision to make Solar financially viable and easy for every business and industry in India, MYSUN DPA allows Businesses to transition to solar with easy monthly instalments.

We have shared the details of the features and functions of DPA in our recent blog post, titled - MYSUN Pioneers Rooftop Solar Financing; Actively Helping Industries Go Solar. Post the release of the article, we received a lot of interest and queries from business leaders seeking to know how the Deferred Payment Agreement works? With this article, we will try and explain the working of the MYSUN Deferred Payment Agreement with the help of an illustration.

Instalments Your Business Pays with MYSUN Deferred Payment Agreement

The Deferred Payment Agreement from MYSUN distributes the total cost of the solar systems in “Easy Monthly Instalments”. But what good is an instalment if it disturbs your working capital by even the slightest? The MYSUN DPA (Deferred Payment Agreement), therefore, keeps these ‘easy instalments’ less than or equal to the savings that your business will make with solar every month; allowing your business to afford solar easily without disturbing your financial standing.

For example, you were to install a 560 kWp solar system worth crores in Haryana, which has the potential to save your business around INR 5.8 Lakhs on power bills every month.



With the MYSUN Deferred Payment Agreement, you can have the solar system installed and just pay INR 35-44 Lakh (20-25% of the solar system cost) as a down payment. The balance amount can be paid in monthly instalments, ranging between INR 5.8 Lakhs for a period of 2.2 to 2.5 years. As the instalments in MYSUN DPA will always be less than or equal the monthly savings from solar (which should be less than or equal to INR 5.8 Lakhs in this case), the solar system ends up paying for itself.

Get In Touch with MYSUN Solar Advisors Today & Avail the Benefits of DPA

As you can see, MYSUN Solar Financing brings solar systems within the budget of any small, medium or large enterprise. It allows businesses to pay just a fraction of the amount upfront and the solar system eventually pays for itself. With such a handy option on the table, you will agree that there is no right reason for your or any business for that matter to not go solar. Call our solar advisors now on +91 8448380218 or write to them on [email protected] to get your personalised solar proposal under the MYSUN Deferred Payment Agreement.

The Consumer Electronics Show or CES is an annual event held in Las Vegas, Nevada, the United States where the future of personal technology and automobile is on show. While the show in the recent few years has lost some of the novelty it carried, it is still a place to discover a couple of cool prototypes. One interesting tricycle we found out about makes to the list of our Interesting applications of Solar that we frequently feature on the MYSUN blog.



The tricycle manufactured by Wello is a cross between a bike and a car. The hybrid vehicle has an optional battery and solar panels on the rooftop. This way, not only can you pedal your way to your destination but you can use the power of the sun to take some load away and use the electric power of the vehicle. The solar-powered tricycle is aimed to navigate the streets of urban areas through the traffic and aims to encourage people to abandon cars. There is a nifty application that connects via Bluetooth and gives live updates. The tricycle is developed in Réunion Island and can go as much as 25 to 40 km per hour.



The vehicle brings the benefits of a car in the profile of a slightly bigger bike. It has space for one passenger in front and two children or another adult at the back. A lightweight solution, the Wello tricycle is a good solution for those who are looking to cover short distances in the day. Wello says that the tricycle has zero carbon dioxide emission making it a good addition to the road for daily short-distance commuters with consideration for the environment.



With 7.4 feet in length and 2.7 feet in width, the tricycle has enough room to carry small luggage and a hard outer shell to keep the riders safe. What’s most interesting is that the bike is already on pre-order for about 7,900 euros with solar panels.


MYSUN’s Take: The Wello Tricycle no doubt is a useful little concept vehicle. However, at the price it is marked, it may be a hard sell even in Europe. Having said that, innovative solutions like these are what will push the industry forward and while the Wello may not become a household name, we hope more people will integrate solar energy as their energy source in automobiles and bring us a truly commercial solution.

Image credit: wello.io

With the cost of power from solar energy, in several states, highly comparable to that produced by hydro/coal power plants, solar is seen not just an alternative, but a very viable solution for commercial, industrial as well as residential establishments. Advancing technology in solar has helped industries across India save as much as 80% on their monthly power expenses. To put this into context, if an industry is paying an electricity bill of INR 10L today, it is possible to bring that cost down to about INR 2~3L a month, depending upon the location, system size and feasibility of the project. The savings when amassed over 25 years, which is the typical life of a solar system, run into high crores, thereby directly impacting the profitability of the company.

However, due to the high magnitude of power requirements that businesses have, especially for large scale business, the decision to go solar can be an expensive undertaking. And, because most of the capital of the businesses are locked in ongoing operations, investing a big amount upfront becomes a hindrance, ultimately, delaying their decision to go solar. Addressing this need of the industrial sector, MYSUN has pioneered an inhouse financing product which would allow industries to enjoy the benefits of solar without having to shell out the complete cost upfront. Add to it, our strategic tie-ups with the leading banks and NBFCs, MYSUN is determined to remove any obstacle that proves to be a bottleneck in the solar journey of our customers.

Run the MYSUN Solar Calculator now to see how much your business can save with solar every year.

How MYSUN’s C&I Solar Financing Work?

The inhouse Solar Financing product designed by MYSUN financial experts caters specifically to the needs of our commercial and industrial consumers. It makes solar viable for hundreds of businesses across the country. MYSUN offers its customers the Deferred Payment Agreement (DPA). The DPA payment plan allows businesses to go solar in easy monthly instalments under the CAPEX model. But before we get into the details of the payment plan, let's first understand the two solar ownership models namely - CAPEX and OPEX models, and the financing challenges that businesses face related to these:

• CAPEX Model of Solar and its Financing Challenges

Under the CAPEX model, the solar system is owned and paid for by the business on whose rooftop the solar system is installed. The CAPEX proves to be cost-effective compared to OPEX. The LCOE (Levelized Cost of Electricity, which is cost/unit of electricity over 25 yr horizon) for solar under CAPEX is significantly lower than that under OPEX. Also, there is an added benefit of Accelerated Depreciation which comes with the ownership of the solar assets under CAPEX. The only challenge it presents - is the capital cost of going solar. MYSUN’s Deferred Payment Agreement (DPA) helps businesses defer this challenge.

• OPEX Model of Solar and its Financing Challenges

Under the OPEX model, the solar system installed on the rooftop of a business enterprise is owned and managed by an investor or a third party. In this model, the business does not pay for the cost of the solar system, but instead for the per unit of power that will be consumed from the electricity generated by the solar system. For this, the Business Enterprise enters into a PPA (Power purchase agreement) with the investor/third-party, but a strong credit rating is mandatory for the business to be eligible.

The point to note here is that - the majority of businesses in India belong to the SME/ MSME segment. And, the majority of SMEs/ MSMEs have poor credit ratings, stretched balance sheets and overdrawn working capital limits. This makes adoption of solar under the Opex model difficult for the majority of businesses, leaving Capex as the optimal model.

Did you know these 6 Things that Every Industry Should Consider Before Going Solar?

Details of MYSUN C&I Solar Financing: The Deferred Payment Agreement (DPA)

Under MYSUN’s Deferred Payment Agreement a business can install and own a solar system from day one by paying just 20-25% of the total solar system cost, while the balance can be paid in subsequent months over a period of 3~5 years. Given that the solar veterans at MYSUN understand the significance of the allocated working capital for a business, the Deferred Payment Agreement is designed to keep the instalment amount no more than the monthly savings they will reap with solar. Therefore, businesses pay for solar through the savings they realize on their monthly electricity bills after going solar.

Post the completion of the Payment Tenure, businesses can use the Savings from Solar to enhance its profitability in the form of high EBITDA (Earnings before interest, tax, depreciation and amortization) margins.

Thanks to Solar Financing from MYSUN, the commercial and industrial enterprises have no reason to withhold their decision to go solar. Therefore, if you are a business owner and are paying lakhs for power bills every month, choose to go solar today with MYSUN and begin availing the benefits of the MYSUN Deferred Payment Agreement.

You can call our Solar Advisors on +91 8448380218 or submit your details by clicking the “Schedule Your Site Survey” button below to start your solar journey today.

Do check out some of the Advantages of going solar with MYSUN - The Largest Online Rooftop Solar Platform in India.

Video of a 1.7 MW Rooftop Solar Plant in Rajasthan which is Saving our Client 190 Lakhs P.A