In a bid to push the interest and encourage consumers to go solar, the Administration of Chandigarh has announced a subsidy of 30%, with a target of achieving 50MW by 2022. With costs of solar power anyway at an all time low, this subsidy would only make the grass even greener. Kirron Kher, a famous actress and Member of Parliament speaking at an inauguration of a solar project in Chandigarh supported the move and urged the residents to make most of the opportunity and to invest in rooftop solar.
In an attempt to find out what this subsidy would mean for an average residential customer in Chandigarh, we ran his case through our proprietary MYSUN Solar Calculator. We assumed that the bill of the residential customer is Rs 4,000 and found that without any subsidy, he stands to save up to Rs 609 on his monthly bill. This translates into a Return on Investment of 24.6% annually, without any subsidy. Take into consideration this 30% subsidy that would be available and you are looking at returns in the range 50% year on year, with the total cost of just Rs 22,445. While the figures may seems way too good to be true, they are real.
Apart from this subsidy from the centre, CREST or Chandigarh Renewable Energy Science & Technology Promotion Society is also offering a handsome reward of Rs 1,00,000 award to the RWA that performs the best in Chandigarh in terms of solar, thereby ensuring that there is not just enough interest among individual residents in going solar but also ensuring that there is a strong word of mouth and the neighbours are also enrolled. CREST officials are targeting installations of more than 2,000 residential homes within a year thanks to this incentive. Although Chandigarh ranks on top when it comes to cities with rooftop installations in India on Government buildings, the growth has been slow on private rooftops. This has been primarily attributed to lack of awareness and information among the residents. With an award for the RWA, you would expect a lot of community effort will go into pushing the initiative.
You can also avail solar capital subsidy for schools, colleges, hospitals, NGOs, etc. Please read more about this subsidy here.
While you should anyway register your rooftop on MYSUN when you decide to go solar and we will duly connect you to the right developers and partners in Chandigarh to help you go solar, you can also visit the website of CREST which has more information. So hurry up and make most of the opportunity and go solar. If you are not from Chandigarh, you need not get disappointed as SECI (under MNRE) has also announced a subsidy of at least 30% for all the states and UTs in India, and you can read more about the same here .