Buying a Solar PV system (CAPEX Model): You purchase the Solar PV system upfront and can avail various bank loan options to finance your Solar PV system.
Buying only solar power (RESCO Model): A solar power developer owns the Solar PV system setup on your rooftop/ land. You only pay for the generated electricity at a pre-agreed tariff. This usually requires a long-term buying commitment and guarantees from your side and entails a lengthy credit appraisal process.
Equipment leasing: An equipment leasing company will lease the Solar PV system to you and will charge you a fixed monthly/ periodic fee. This also requires long term commitments and guarantees from buyers. However, equipment leasing is not widely available as of now. Click here for more information.
Which is better for me – Buying a Solar PV system or buying solar power?
Buying a Solar PV system is relatively easier and also maximizes your financial returns. In case of companies, depreciation benefits can also be availed through this option. If you are only looking to buy power and give long-term financial commitments & guarantees, you can consider buying solar power. However, since this option requires a lengthy credit appraisal process, it is available only to a few selective buyers as of now.
How can I avail loan for solar PV system?
Depending upon your user category you can choose between various loan facilities such as home loans, retail loans, business loans, etc. If you are a residential customer, you could avail a top-up home loan or a consumer/ retail loan or something as simple as credit card linked payment plan. Banks also provide loans to commercial and industrial consumers for installing solar PV systems. RBI has also accorded ‘Solar’ a Priority Sector Lending status mandating banks to provide loans for solar at preferential interest rates.
What if I move to another place?
Solar PV systems can be easily dismantled and moved. However, before moving the system please check with your system installer on your system warranties. In case of RESCO model, since you will have a long term commitment to buy power, check your contractual terms with the developer.
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Select indicative date for site survey The selected date is only an indicative date. The final date of the survey will be confirmed by our team via a call to you based on the availability of the site survey engineers