How to apply for solar subsidy in Rajasthan (2022)
Solar power has evolved into more than just a replacement for our depleting resources; it has also become a symbol of our development. The solar subsidy is an effort by the Rajasthan government to bring clean and green energy to every business and private sector in the country. This will help you save money while also removing your reliance on the government grid.
Rooftop solar subsidy in Rajasthan of up to 3 kW will be eligible for a 40% subsidy. Rooftop solar installations over 3 kW and up to 10 kW will get a 40% subsidy for the first 3 kW and 20% for the remaining capacity. In comparison, installations beyond 10 kW will receive a 40% subsidy for the first 3 kW and 20% for the remaining capacity. However, there is no subsidy for capacities more than 10 kW.
The Central Financial Assistance on Rooftop Solar Systems for Homes or Group Housing Societies is exclusively available to the residential sector, and there is no subsidy above 10 kW capacity. Rajasthan Renewable Energy Corporation Limited (RRECL) has enlisted the services of over 100 suppliers to build solar installations under the subsidies plan. If you're interested, your distribution company can provide you with the contact information for empaneled merchants.
The Impact of Solar Panel Subsidy in Rajasthan
Solar energy is a renewable form of energy that is being appreciated by the government all over the country. The subsidy on solar panels in Rajasthan will help people adapt and afford the solar panels instead of the non-renewable form of energy.
Some of the impacts that the subsidy will have in Rajasthan are as follows:
- It will provide employment and increase the growth of economies
- Solar power can be used at any time of the day
- Supports the sustainable approach
Unemployment is one of the biggest problems in the economy, which drops the GDP of the country. The unemployment rate in Rajasthan is 27%. The subsidy will give people an opportunity to get employed.
Power cuts are a major issue in many states, and Rajasthan is one of them. The solar panel subsidy in Rajasthan will resolve this issue as solar panels allow people to use electricity at any time of the day.
The world needs to save for the future generation and move towards a sustainable approach. The use of green energy will save resources for future generations.
Who is Eligible for a Solar Subsidy?
Perhaps you're wondering if you're also qualified for a solar system subsidy. The government of Rajasthan has specified the eligibility criteria for the subsidy of solar panels. Take a look at the list below to see who qualifies for solar subsidies:
- A government subsidy on a solar system is available to all residential households
- Subsidies are available for registered societies, multi-storey flats, and cooperative group housing societies
- Solar subsidy plans are available to educational institutions such as schools, colleges, etc.
- NPOs (non-profit organizations) such as nursing homes, orphanages, and other similar groups are also eligible for the subsidy
- The subsidy programme is available to farmers who want to put solar pumps in their fields
Have you read: Solar panel subsidy in India
Features of Subsidy on Solar Panels in Rajasthan That you Can Apply For
The subsidy will benefit many people to make a living. Here are some of the insights from the solar panel subsidy in Rajasthan:
- Solar Return on Investment
- Savings on the Electricity Bills
- Tax Benefit & Accelerated Depreciation
- Companies are advised to grab the tax concession provisions under the subsidy
- The government will directly pay their subsidy
The subsidy provided by the government will help to reduce the cost of solar energy. Therefore, residential and business customers who pay more than Rs.1,000 per month in power costs may think about installing an on-grid solar system to save money. It will save you money and provide you with a fantastic return on investment in renewable energy.
Solar electricity allows you to run all of your appliances during the day, and subsidies will help you capture these schemes' advantages. Remember that you are not utilizing grid power at this time. Therefore your electricity bill will not rise throughout the day.
The subsidy will help customers in the commercial, residential, and industrial sectors to benefit from expedited depreciation. Solar power-producing projects can take advantage of the federal government's accelerated depreciation benefit under section 32 of the Income Tax Act of 1961.
Companies can utilize this to lower their tax burden significantly in the first few years of a project, up to 100% of the project cost (80% accelerated depreciation and 20% additional depreciation)
The subsidy provides concessions and exemptions on particular materials imported for the production of solar power generation items and for usage in solar power generating projects, which the federal government has legislated.
The government's subsidy will be paid directly to the solar system installation firm such as Waaree Energies Solar EPC solutions. You will not be directed to intermediaries.
Estimated Number of Projects/Beneficiaries of Announced Subsidy
The total project capacity for Rajasthan is 45 MW, based on an average project size of 6 KW. There is a chance that about 7000-8000 projects will be installed only under the Subsidy Scheme.
Vendors Who Have Been Appointed
Only empaneled providers and vendors should install the system for residential customers. Subsidy on solar panels in Rajasthan will be distributed in a structured manner which will help people take the utmost advantage of this scheme.
Almost every state provides an online platform for submitting a subsidy application. You can contact your state's nodal agency through them. The subsidy rate varies from state to state. Each state has its solar agency with its own set of rules. In India, the government often gives 20% to 90% subsidies. The solar subsidy will allow people to install solar panels in their homes directly at the subsidized rate. Waaree can help you navigate the process easily and make good use of this scheme.
By March 31, 2022, the MNRE (Ministry of New and Renewable Energy - Central Government) will have installed 227 Gigawatt (22,70,00,000 kilowatt). To meet this goal, the government is encouraging solar energy in a variety of ways. The subsidy on solar panels in Rajasthan will have a huge investment. The government has also set aside Rs.5,000 crore for solar subsidies alone. Solar panels may now be installed at a reasonable cost, thanks to government incentives.
You can also read: Solar Panels for Home, Office & Shop Price in India