Complete Details About Solar System Price and Subsidy in Punjab(2024)

In addition to warmth and light, the sun is also a source of incredible energy. Photovoltaic technology is used to convert sunlight into electricity – a process known as the photovoltaic effect. The commercial and residential use of solar power systems is gaining traction with the government incentivizing the adoption of solar, especially among residential customers. The price of solar systems for homes in Punjab is highly profitable and affordable under the simplified rooftop subsidy scheme.

Solar PV plants can be installed on the roofs or open areas of individual homes, businesses, institutions, and residential communities. Even schools, hospitals, sheds, cold storage facilities, government and semi-government buildings, farmhouses, and large industries can immensely benefit from using solar energy.

If your sanctioned load is greater than 1.25 kW, solar energy is going to be a more profitable energy source for you than conventional sources. Savings on monthly electricity bills can help you earn back your upfront solar system price in Punjab in just 6-8 years. At the system time, solar systems promise a reliable supply of free electricity for a total of 25 years.

Solar Panel System Subsidy in Punjab

Households have the chance to lower their solar panel price in Punjab for homes and cut electricity costs by taking advantage of subsidy on solar panels in Punjab. You can receive Central Financial Assistance (CFA)/Solar Subsidy Support of a predetermined sum for every kW of your system size under the Rooftop Solar Programme Phase II scheme. This programme only benefits residential consumers and housing societies.

Note: A CFA/subsidy application is only approved if your installed RTS plant has undergone a successful inspection and commissioning, which includes the integration of the net metering mechanism. The total solar system capacity certified by your local DISCOM is used to determine the CFA/subsidy amount.

Solar System Price in Punjab

Wonder what is the price of solar panel systems in Punjab after subsidy? Contacting an established solar provider for a tailored quotation is the safest way to determine the upfront solar investment for your home. The solar firm will give you advice on the best RTS capacity to fulfil your power needs and will also guide you on 1kW-10kW solar system prices in Punjab. The prices may vary depending on the technical and financial characteristics of your property and your annual electricity needs.

Here is an illustration of the pricing range of 1kW to 10kW solar panels in Punjab. It’s crucial to remember that a number of variables dictate your solar investment. These include the kind, size, and composition of the solar panels, the type of solar system you choose, and the design of the module mounting structure used.

Solar System Price in Punjab with Subsidy

What is the price for a 2kW solar system in Punjab with subsidy? The Punjab State Power Corporation Limited (PSPCL) provides subsidy support for rooftop solar systems that are linked to the grid and have a capacity between 1 kW and 10 kW or even higher. The solar subsidy in Punjab is anticipated to lower solar panel costs in Punjab for consumers in the residential sector.

The Central Financial Assistance (CFA) or subsidy for a rooftop PV solar system will be determined by the system’s capacity. A fixed per-kilowatt rate is prescribed across different system capacity slabs.

PSUs and other government organisations are not eligible for solar subsidy in Punjab. CFA is available to all residential and institutional structures. Refer to the table below to understand how much subsidy you can get on solar plants in Punjab.

Steps to apply for a subsidy in Punjab

The processing and distribution of solar panel subsidies in Punjab and throughout India have been made simpler by the introduction of the National Portal for Rooftop Solar. In addition to being more efficient and transparent, the online process also gives consumers more leverage to access subsidy benefits. Logging into your account will allow you to submit your subsidy application, see its progress, upload all necessary paperwork, and get the authorised sum in your bank account.

Not sure if you qualify for subsidy on your 4kW solar system price in Punjab or any higher system capacity? Make sure you are familiar with eligibility criteria and purchase solar parts made in India. Visit the online site to find out about the qualifying requirements, registered solar vendors in your area, and the list of Approved Models & Manufacturers of BIS-compliant Solar Photovoltaic Modules.

Benefits of Solar Panel Subsidy in Punjab

Adding a solar panel system to your home allows you to tap into the benefits of solar panel subsidy in Punjab:

• Reduced electricity bills

The majority of states have unlimited access to sunshine without any restrictions. High-efficiency solar panels offer daily energy production of energy for a guaranteed lifespan of 25 years, after which they give less and less power. Solar is a one-time investment that promises decades of inexpensive power supply.

Your monthly grid demand can be significantly reduced or perhaps completely eliminated using solar energy. Your system’s solar energy output exceeds the daily electricity needs of your home during peak sun hours. The extra energy produced is transferred to the local grid in exchange for solar credits. These savings can eclipse your initial solar panel price in Punjab for home in just 6-8 years and offer incredible returns throughout the system’s lifespan.

Process for Installing Solar System in Punjab

Step 1 – Registration: You must first register on the National Portal for Rooftop Solar in order to submit an application for solar system subsidy in punjab. You can access this online portal to track the status of your subsidy payout procedure, from application to tracking and approval. The Ministry also plans to create unique portals for various regional DISCOMs that are connected to the main portal.

Step 2 – Furnishing relevant documents: Under the revised mechanism, the beneficiary who wants to purchase a residential solar system must first file an application on the national portal. Along with the bank account information for the subsidy payout, you will need to provide all necessary information and documentation regarding the planned rooftop solar plant (RTS) installation.

Step 3 – Approval of technical feasibility:  The completed application will be forwarded to the local DISCOM, and the DISCOM portal can be used to monitor the application’s progress. Once DISCOM determines the technical viability of your rooftop solar installation, the approval is expected to be given within the next 15 working days.

Step 4 – Selection of vendor: Your preferred vendor can begin installing the rooftop solar panels as soon as you give the go-ahead. Ensure that you choose an empanelled solar energy firm for the installation that is registered with your local DISCOM company. Also, make sure the solar modules meet DCR criteria. Additionally, the producers must be on the MNRE’s Approved List of Models and Manufacturers (ALMM). Similarly, confirm that your solar inverter has J3IS certification.

Step 5 – Application for net metering: Application for net metering using the same national portal is the next step after the solar installation is complete. The local DISCOM in charge of your application will make arrangements for net metering, with the recipient or the DISCOM responsible for acquiring the net meter. Every announcement made during the procedure will be posted on the portal. 

Step 6 – Approval: The beneficiary can read the commissioning and inspection report that was created by the officer designated by the DISCOM business on both the DISCOM and national portals. Your eligibility to receive the amount for subsidy for solar panels in Punjab in your account will be confirmed by a positive report, called the commissioning certificate.

Step 7 – Subsidy/CFA Request

Upon receiving your commissioning certificate, share your bank details on the portal and raise your request for subsidy/CFA claim transfer online. The final subsidy/CFA amount is transferred directly into the beneficiary’s bank account within 30 days of approval.

What is Net Metering?

Owners of solar energy systems receive credit for the electricity they contribute to the grid through a billing system called net metering. An on-grid solar system is eligible for solar subsidy in Punjab as well as the advantages of the net metering mechanism. 

Solar systems can produce more electricity than the house needs during the day. If the house is net-metered, the electric meter runs backwards to give solar credits for transferring unused solar electricity to the grid. These credits can be used to purchase additional electricity during night hours or when the house uses more electricity than the solar system can produce. Only the customer’s ‘net’ energy use is charged. On average, 20% to 40% of the total solar production is typically exported to the grid, where it is used to power loads for neighbouring customers.

How to apply for a net meter in Punjab?

Go to PEDA or the Punjab Energy Development Agency website to apply for the net meter in Punjab. Click on “Net Meter” which will redirect you to the next page. You will come across a form on this page and once that is filled, you will receive your application number and password from PEDA. You then have to submit your documents for verification. Once the application is approved, the system will be commissioned. This involves setting up a net metering system to monitor and regulate your home solar system.

Conclusion

India’s goal of making the switch to clean energy depends on financial support for the renewable energy sector. As a result, we should anticipate the continuation of subsidy programmes for the residential sector in the near future.

Although there has been a delayed adoption of rooftop solar systems in the residential sector. This is partially due to a lack of knowledge about solar electricity and the subsidies offered. The situation is anticipated to get better. Future house solarization will increase as the state government improves the way subsidies are distributed.

Solar systems with subsidies in Punjab are ideal for use right now. At Amplus Solar, we have years of experience installing stylish, incredibly resilient, grid-connected rooftop solar solutions that are tailored to the requirements of each customer. We encourage you to schedule a consultation with us right away if you need assistance figuring out the price of solar panels in Punjab with subsidy for your home.

Frequently Asked Questions

How can I get a solar subsidy in Punjab?

With the launch of the National Portal for Rooftop Solar, the MNRE has simplified the rooftop solar system subsidy scheme in Punjab. Homeowners intending to get solar can select a solar system that is most suitable for fulfilling their energy needs and then initiate the subsidy process online. Installation must commence only after you have received the technical feasibility approval.

What is the solar system price in Punjab?

You must consider the type of solar plant and quantity of solar panels that go into your rooftop solar PV system to determine the solar system price in Punjab. Discussing your solar needs with a seasoned solar installer in your area, such as Amplus Solar, is an easy way of determining the cost of solar panels for your home.

How much time will it take to release the subsidy?

You can expect to receive the subsidy amount in your account within 30 days from the day of solar system installation, considering that your online application has been duly approved.

What is the 5kW solar system price in Punjab with subsidy and where can it be used?

On-grid 5kW solar system price in Punjab with subsidy is approx. 2 lakhs to 3 lakhs. For residential properties with two to three floors, schools, and hospitals that run heavy appliances even when the power is down, a 5kW off-grid solar system can offset a significant part of your monthly utility bills. A 5kW solar system can successfully power a load of up to 4,000 watts.

What kind of necessary assistance does an empanelled solar vendor provide?

To be eligible for solar subsidy aid, the beneficiary must hire an empanelled solar vendor for installation. The vendor is obligated to perform an initial site survey and assess technical and financial parameters. This understanding is important to determine the right system type, size, and design for your home.

Also, the registered vendor takes care of your complete installation process which involves obtaining permits and assisting the DISCOM officials in the net meter integration. After installation, the vendor is required to maintain the system for at least five years.

Amplus Solar

January 15, 2024