Solar Rooftop System Price & Subsidy in Maharashtra 2024

As the world moves towards sustainable energy solutions, solar energy has become a popular and reliable choice for homeowners, especially in India. Maharashtra, with its abundant sunshine, is one of the leading states promoting rooftop solar systems. If you are considering installing a solar panel system on your rooftop in 2024, understanding the pricing and subsidy structure can help you make an informed decision.

Under the PM Surya Ghar Yojana, homeowners can benefit from a solar panel subsidy in Maharashtra, reducing the upfront cost of installing solar rooftop systems. This scheme makes solar power more affordable and accessible for residents, enabling them to save on electricity bills while contributing to environmental sustainability.

In this article, we will explore the cost of solar systems in Maharashtra, the various subsidies available, and the steps involved in applying for these subsidies.

Understanding Maharashtra Solar Panel Subsidy

To encourage the adoption of renewable energy, the Government of India and the Maharashtra state government offer substantial financial incentives for installing solar rooftop systems. The subsidy program is primarily managed under the Ministry of New and Renewable Energy (MNRE), which provides financial assistance for both residential and commercial installations. Additionally, state-level policies ensure more specific support for solar projects in Maharashtra.

The new National Portal for Rooftop Solar makes it easy for people in Maharashtra and across India to apply for and receive solar subsidies. This online platform helps consumers get financial support to lower the cost of installing solar panels. The subsidy amount in Maharashtra depends on the size of the solar system that the state DISCOM approves.

Solar System Price in Maharashtra

The price of installing a solar rooftop system varies depending on several factors, such as the capacity of the system, the quality of components (like panels and inverters), installation complexity, and labor costs. In 2024, the typical pricing structure for solar panel systems in Maharashtra is as follows:

The solar panel rooftop system price range depends on the type of solar panels chosen. Monocrystalline solar panel, which are more efficient, are slightly more expensive than polycrystalline panels. Inverters and batteries also play a role in determining the final cost.

Solar System Price with Subsidy

The financial assistance from the government significantly reduces the initial cost of solar installations. With Maharashtra solar subsidy, the out-of-pocket expense for consumers can drop substantially, making solar energy a more affordable option for homeowners in Maharashtra. To better understand the cost after applying the solar yojana maharashtra, here’s an illustrative example:

Steps to Apply for Solar Subsidy in Maharashtra

To benefit from the solar subsidy in Maharashtra, you must follow a step-by-step process.

1. Identify a MNRE-Approved Vendor: To be eligible for the subsidy, the solar installation must be done by a vendor approved by MNRE. A list of such vendors can be found on the MNRE website or the MSEDCL portal.
2. Submit an Application to MSEDCL: Once you have selected a vendor, you will need to submit an application for subsidy to MSEDCL. The application can be done online or in person at an MSEDCL office.
3. System Installation: After receiving the approval, the vendor will install the system on your rooftop. Ensure that all necessary standards and guidelines are followed to qualify for the subsidy.
4. Inspection: Post-installation, a government-appointed inspector will visit your property to verify that the system has been installed as per the regulations.
5. Subsidy Disbursement: After successful inspection, the subsidy will be disbursed directly to the consumer’s bank account or adjusted in the final payment to the vendor.

Benefits of Solar Panel Subsidy in Maharashtra

1. Cost Reduction: The most obvious benefit is the reduction in the upfront cost of solar installation. With the subsidy, you can recover a significant portion of the installation cost, making solar energy more accessible.
2. Faster Payback Period: With reduced installation costs, the time it takes to recover your investment through savings on electricity bills shortens. Depending on the size of your system, you can expect to see a full return on investment in 4 to 6 years.
3. Environmental Impact: By adopting solar energy, you contribute to reducing carbon emissions and dependence on fossil fuels, helping to mitigate climate change.
4. Increase in Property Value: A solar-equipped home has higher property value and appeal due to reduced energy costs and sustainable living benefits.

Process for Installing a Solar System in Maharashtra

Beyond applying for the subsidy, here are the general steps to install a solar panel system in Maharashtra:

1. Evaluate Your Rooftop: First, ensure your rooftop has sufficient space and sunlight exposure.
2. Choose a Vendor: As mentioned earlier, select a reliable and MNRE-approved vendor for the installation.
3. System Design: The vendor will visit your site and design a system based on your energy consumption and available rooftop space.
4. Sign an Agreement: Once the design is finalized, you will sign a contract with the vendor detailing the cost, timeline, and warranty.
5. Installation: The solar panels, inverter, and other necessary components will be installed by the vendor, usually taking 1 to 2 weeks.
6. Inspection & Net Metering: After installation, the system will undergo inspection, and a net metering device will be installed to track your energy production and consumption.

Conclusion

Investing in a solar rooftop system in Maharashtra in 2024 is a financially sound and environmentally friendly decision. With government subsidies in place, the cost of solar installation has become more affordable, and the benefits, both in terms of savings and environmental impact, are substantial. The solar subsidy in Maharashtra under the PM Surya Ghar Yojana offers significant financial incentives to encourage the use of renewable solar energy. By taking advantage of the solar panel government subsidy Maharashtra, homeowners can save money on installation and electricity costs, while contributing to a greener and more sustainable future. By following the proper steps to apply for a solar power subsidy in Maharashtra and install the system, you can enjoy long-term savings on your electricity bills while contributing to a greener future. Whether you are a homeowner or part of a housing society, now is the perfect time to make the switch to solar energy.

FAQs: Everything You Need to Know About Solar Subsidies in Maharashtra 2024

1. Why does the government provide subsidies for solar systems?
   The Indian government aims to achieve 40 GW of solar energy from rooftop installations in residential areas. To encourage more homeowners to adopt solar energy, the government offers subsidies to reduce the installation costs. This is a great opportunity to take advantage of schemes like the solar panel subsidy in Maharashtra.
2. What are the requirements to avail of a solar panel subsidy in Maharashtra?
   To be eligible for the Central Financial Assistance (CFA) or subsidy in Maharashtra, you must hire a registered vendor to install your rooftop solar plant. Details about registered vendors can be obtained from the DISCOM service company in your area. The installation should comply with the guidelines and technical specifications set by the Ministry of New and Renewable Energy (MNRE). Additionally, only domestically manufactured solar components, including solar cells, modules, and inverters, should be used for the installation.
3. Does my solar system have a warranty if I register through a subsidy scheme?
   Yes, if you register your solar panel system under a subsidy scheme, the empanelled installation company will provide a performance warranty for 5 years. After this period, the maintenance and repair responsibilities will be borne by the customer.
4. Is there a subsidy or incentive for commercial or industrial solar systems?
   The solar panel subsidy scheme in India is currently available only for residential setups, such as individual homes, large apartments, and housing societies. Commercial and industrial solar installations do not qualify for these subsidies. However, they can benefit from other incentives like excise duty exemptions, tax holidays, and accelerated depreciation.