Solar Subsidies 2024: Government Subsidies for Solar Panels
When considering solar panel installation in your space, the first thing you might wonder is, "How much does it cost to install solar panels in a home?" Right? The best thing about installing solar panels is that you will benefit from government subsidies. Having a solar setup at your property is more affordable than you might think, especially in the long run.
The Government of India designed solar subsidies to encourage more homeowners to choose a sustainable option and embrace renewable energy. By offering significant savings on solar installation costs, the government is making it easier and more affordable for people to choose solar power for their electricity needs.
Solar Subsidies 2024: Government Subsidies for Solar Panels
- - For systems up to 2kW, you can receive up to ₹30,000 per kilowatt in subsidies.
- - If you're installing a 3kW system, you're eligible for a ₹78,000 subsidy.
- - And for systems larger than 3kW, you'll still get that ₹78,000 fixed subsidy.
Up to 2kW
3 kWp
Over 3kW
₹30,000/ kW
₹78,000
₹78,000 (fixed)
The subsidy is based on the lower of the module or inverter capacity, and some states offer additional incentives in addition to the national program.
Solar Subsidies 2024: Government Subsidies for Solar Panels
The Government of India has launched the National Portal for Rooftop Solar to make the application process as simple as possible. Through this online platform for government solar subsidies, you can apply for the subsidy, track your application status, and even receive the funds directly into your bank account - all from the comfort of your own home.
To qualify, your solar project must be registered on the portal and use domestically-produced solar panels and equipment. The installation also needs to follow all MNRE guidelines and be done by an approved vendor. Once your application is submitted, the feasibility is assessed within 15 days.
After approval, you'll work with your registered vendor to get the system installed. Once the net metering is set up and the inspection is passed, you'll receive your commissioning certificate, and the subsidy money will be deposited into your account within 30 days.