Bengaluru Homeowners Guide to Solar Financing

Growing investments in solar have made way to several financing options that can help you cover costs while also experiencing its benefits. Various financing options are available for Bengalurians looking to invest in solar power systems but choosing the right one from a vast array of choices is an arduous chore.  

Here’s a simple break down of what options are available in the market for you to make an informed decision: 

1. Bank Loans 

With the growing adoption of renewable energy in the country, several banks now offer loans specific to solar with competitive interest rates ranging from around 7% to 12% and flexible repayment terms such as durations, frequencies and EMI amounts. This makes it easier for homeowners and businesses to invest in solar energy while ensuring it fits your financial needs. 

2. NBFC Financing 

If you are looking particularly for flexibility with financing, NBFC’s or Non-Banking Financial Companies are your go-to. Atria Renewable partners with Creditfair, a solar financing NBFC, to provide the most optimal financing solution for solar installations at a low-cost EMI option and an attractive interest rate of just 7.65%.

These options are designed to make solar energy accessible with faster processing and wider collateral options to reduce strain on your budget. Click here to check out our easy financing option. - link to WCA credit fair section. 

3. Government Subsidies 

The government of India and MNRE have been strongly supportive of solar power adoption throughout the country. To encourage the use of renewable energy Prime Minister Narendra Modi introduced the PM Suryaghar Yojana national subsidy scheme also known as the PM Suryaghar: Muft Bijli Yojana in the country on 15th of February 2024. Through this scheme you can apply for a solar subsidy of up to Rs 78000 based on your solar system requirements.

To do this you need to register yourself on the national portal for rooftop solar and your local DISCOM website (like BESCOM in Bengaluru). Click here to know more about PM Suryaghar Yojana.

Utilizing these financing options can make the transition to solar energy both economical and efficient. For personalized assistance and to explore the best financing solutions to go solar, reach out to our dedicated solar experts today on 080-62680000 or click here to enquire.