As India becomes serious about carbon neutrality and transitioning to a green energy economy, solar power plants are seeing an unprecedented surge in financing and investment support by The Government of India.
In this article we explore the recently launched rooftop solar power plant scheme for housing societies also know as Resident Welfare Associations (RWAs).
This scheme is for housing societies Solar Rooftop Power Plants only - Investment required is Rs.3 lakhs up to Rs.58 lakhs.
The Govt. of India through its cental portal now offers a subsidy of Rs.18,000/- per KW on solar power plants for Resident Welfare Associations. For special category states that include Uttarakhand, Himachal Pradesh, Jammu & Kashmir, Ladakh and North Eastern States this amount is highier at Rs.19,800/- per KW. The maximum capacity solar plant that can be subsidized under this scheme is 500 KW.
Our hometown Dehradun too, is finally becoming serious on the solar power transition in the city. In a recent meeting conducted between the Mussoories Dehradun Development Authority (MDDA), Uttarakhand Renewable Energy Development Authority (UREDA), Uttarakhand Power Corporation Limited (UPCL) and the Builders Association of Dehradun it was decided to ensure mandatory installation of solar power plants in housing societies. Further, benefits towards capital subsidy will also be provided on solar power plants under the mukhyamantri saur swarojgar yojana. According to the proposed MDDA norms it will become mandatory to install solar power plants for housing societies having a sanctioned load more than 30 KW. Builders will be given a 30% subsidy under MSME scheme for this.
For existing housing societies, they can install upto 200 KW solar power plants. District cooperative banks will also provide loans on the solar power plants. Housing societies can install 20, 25, 50, 100 or 200 kw solar power plants.
Societies that have a total rooftop area of 750 - 1000 sq mt. can install a solar power plant of a capacity up to 50 KW. Housing societies with rooftop area of 1500 - 2000 sq mt. can install 100 KW solar plants and societies with a rooftop area of 3000 - 4000 sq mts. can install 200KW solar power plants.
Solar Plant Capacity | Area Required (Sq Ft) using 50% coverage | Annual Generation (in kWh) | Annual savings (@Rs.7.5/kWh) |
25 | 4000 | 38000 | 2,85,000/- |
50 | 8000 | 76000 | 5,70,000/- |
100 | 16000 | 152000 | 11,40,000/- |
200 | 32000 | 304000 | 22,80,000/- |
Furthermore, this initiative not only encourages surplus electricity production but also offers a lucrative opportunity for housing societies to benefit financially. By allowing the purchase of excess electricity at a competitive rate of Rs.4.69 per unit, UPCL provides an incentive for investing in solar power generation.
For housing societies facing financial constraints, the option to secure a loan from a cooperative bank at a concessional interest rate of 8% per annum opens up new possibilities. This financial support enables more communities to embrace sustainable energy solutions without bearing the full financial burden upfront.
One of the most compelling aspects of this scheme is the rapid return on investment it offers. With the ability to recoup the costs of installing a solar power plant within just 2 years, housing societies can quickly start reaping the benefits of reduced energy expenses.
Moreover, the long-term savings generated by these solar power plants are substantial, potentially amounting to savings of lakhs of rupees per year. With an impressive annual return on capital invested of over 30%, this initiative not only promotes financial sustainability but also contributes to environmental conservation.
Importantly, as electricity prices continue to rise in the future, the savings accrued from solar power generation will also increase annually. This built-in protection against escalating energy costs ensures that housing societies can enjoy sustained financial benefits and shield themselves from unpredictable price hikes in the energy market.
We offer grid connected solar power plants across Uttarakhand. Our systems come with comprehensive warranties and 24 x 7 x 365 breakdown assistance. Download our solar rooftop subsidy pricelist for housing societies below:
To summarize, the key benefit for housing societies is the chance to harness solar power to cover up to 100% of their energy needs for free over the next 25 years! Thanks to government subsidies, residents can shield themselves from potential price hikes on grid electricity. But wait, there's more! Any surplus energy produced by the solar rooftop system can be sold to the local power company at Rs.4.69 per unit, allowing consumers to not only save but also earn extra cash. Imagine the possibilities - reduce your consumption, jet off on a holiday, and let your rooftop work for you!
Please contact us on +91 89540 23000 to know more.
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