Direct subsidy for roof-top solar panels soon: Haribabu
Soon you may not have to shell out your money immediately to install a roof-top solar power facility, which has proven to substantially water down your power bills.
Thanks to the efforts of Dr K Haribabu, Parliament Member, who has been coordinating with various departments and banks, this will soon become a reality.
Firstly, Dr Haribabu said very soon 50 per cent subsidy that Non-Conventional Energy Development Corporation is paying will be credited directly to the solar panel manufacturers. Banks, which are willing to finance the remaining 50 per cent, are also being asked to credit the amount to the solar panel makers.
What is more, a modality is being worked out so that the bank finance is re-paid by the consumer through his monthly power bill.
“Our goal is that the consumer who intends to put up the roof-top solar facility does not have to shell out any money from his pocket immediately. I am sure this will accelerate the growth of such installations,” Dr Haribabu told media persons, after the inauguration of a 3 KW roof top solar facility in Vizag last week.
How does one go about having such a facility at his roof-top in AP ? First, the consumer has to select a particular solar panel model from the empanelled manufacturers with the Eastern Power Distribution Co of AP Ltd. Very soon, EPDCL will coordinate with NEDCAP for release of 50 per cent subsidy directly to the empanelled company. It will then subsequently coordinate with the banks for the remaining 50 per cent finance.
Modalities would be worked out with the NEDCAP Managing Director next week, the EPDCL CMD Mr M.M. Nayak said.
A KW unit would cost, at current pricing level, about Rs 75,000. This can produce about four units a day or between 100-120 units a month, at a rate below the price which one pays for power from the grid.
Dr Haribabu said in case the consumer is out of station or is unable to use the power from his roof top facility, it will directly go the grid and the consumer will get Rs 5.20 per unit of the solar power purchased by the grid.
He said banks should lend to home-loan borrowers to set up the panels and go for net-metering and grid export. Bank loan would help finance the high cost of solar panels that would be in the range of Rs.75,000 for KW.
EPDCL, covering the north coastal and Godavari districts, would work out a process by which the EMI would be collected along with monthly electricity bill and credited towards the financed amount.
So far 283 grid export connections had been given to as many customers totalling a generation of 5 MW. With power-cuts being a thing of the past, all the solar power generated from roof-top panels, the EPDCL should be able to achieve the target of 100 MW, the MP said.
MLAs Mr. V. Ramakrishnababu and Mr. Palla Srinivasa Rao said they would also go in for non-conventional energy.