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Solar Subsidy In Maharashtra, 2021

25th May 2021  

Solar panel installation and subsidy in Maharashtra are managed by Maharashtra Energy Development Agency (MEDA). While many people know that installing a solar panel can be beneficial, very few people know what these benefits are.

Benefits of installing a solar panel

  • Energy backup
  • Residents of Mumbai are no strangers to not having electricity during the monsoon season. This frustrating problem can be solved by installing a solar panel connected to a hybrid inverter. This inverter will redirect the extra energy into a battery that can later be used.

  • Electricity bills
  • Many houses are seeing an increase in electricity bills in the post-pandemic world. Installing one of the best solar panels in India will provide enough electricity for your household to function. Solar panels are available in two models on-grid and off-grid. If you install an off-grid solar panel, you might not need the city’s electricity supply.

  • Investment security
  • The electric rates are bound to change. This fluctuation can make a significant difference in your savings. However, investing in a solar panel will save you from losing money. The price of solar power generated by a solar panel can be calculated easily.

  • Government support
  • MEDA and other similar institutions in each Indian state provide subsidies to households that have installed solar panels. This is a method to encourage the installation of a clean energy source in all of India. This is one of the biggest advantages of installing a solar panel in your household.

Before you start searching for solar panel ratings, understand what subsidy is.

What is a solar subsidy?

The solar subsidy is the financial support that the state or central government provides to homes, residential buildings, or houses to install a solar panel system.

The Government of India aims to transfer to a clean energy source wherever possible, and installing solar panels is the first step. This reduces the number of dependents on the government’s power supply, and therefore the government can reduce the generation using non-renewable resources like fossil fuels.

Have you read: Solar Panel Subsidy in India [2021 - Updated]

How will this benefit you?

This subsidy is currently available for residential homes, individual homes (bungalows), and large apartment buildings. The commercial sector and industries cannot avail these because they have a higher electrical requirement to function.

One of the biggest benefits of this for customers is the financial aid the government provides during installation. For example, if you install a solar panel with up to 3KW generation of electricity, the government will provide you with a 40% subsidy, i.e., 40% of the solar panel charges will be covered by the government.

This is broken down into three categories:


Power Generation

Subsidy % from Govt.

<3KW

40%

4KW - 10KW

20%

>10KW

0%


Which solar panel is best in India?

Many people ask the same question: which solar panel is best in India? Many different companies make solar panels and provide installation services. However, the best solution for this is to find a company that will understand your requirements and does the consumption load calculations for you.

Waaree Energies produces some of the best solar panels with a lasting warranty of up to 120 months. Having a range of solar products, from solar-powered chargers to solar-powered bags, they are one of India's leading solar panel manufacturers.

You can also read: 1 KW Solar Panel Price in India [2021]

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