Power | Distributed Solar PV | Partnership and Collaboration
Indian Bank has partnered with Tata Power Solar Systems to provide financing solutions for residential solar power installations under the Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme. This scheme aims to increase the use of solar energy in homes. Homeowners can get loans up to Rs. 2 lakh at 7% interest for up to 3 KW installations. For larger installations, loans up to Rs. 6 lakhs with interest rates ranging from 8.4% to 10.8% are available.
NotesMuch needed partnership. Residential solar panels are still fairly high on the capex side. To the extent the capex can be made into smaller, monthly payments, the faster the segment will grow.
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