Off-grid subsidy details for Solar PV

Posted on June 30, 2012by Ritesh Pothan

For all those who are looking to deploy Solar in residential and commercial areas, here is the breakup of what you can avail off from MNRE

Capital Subsidy: 30% of benchmark cost of photovoltaic systems with battery back-up support and without battery back-up support will be Rs.270/- per Wp and Rs. 190/- per Wp respectively. For Bank Refinance Scheme under JNNSM, the benchmark cost and subsidy rates will remain same as that for 2010-11 till March 2012. Review of the benchmark cost and subsidy pattern for refinance scheme would be under taken and finalized by September 2011, after consultation with the banks, NABARD and other stakeholders, so as to ensure sufficient response time to banks, manufactures and other stakeholders. The CFA would be 30% of the project cost limited to Rs. 81/- per Wp for PV systems with battery back-up support and Rs.57/- for systems without battery back-up support. Interest Subsidy: Funds received by IREDA from MNRE without cost may be made available by it for PAC approved projects directly at interest rate not exceeding 5% p.a as also by way of refinance to the primary lending institutions at a rate of interest not exceeding 2% p.a, subject to the condition that the rate of interest charged by the lending institution to the borrower in respect of the loan does not exceed 5% p.a.