As the Director of Sri Sun Solar Energiser Pvt Ltd, I have witnessed firsthand the transformative impact rooftop solar can have on Residents Welfare Associations (RWAs) and housing societies. If your association is paying a monthly electricity bill of around ₹16,000 or more for common area utilities, you can bring this expense down to virtually zero by installing a rooftop solar system. Let’s explore how this works and the additional benefits you can access—including direct government subsidies and easy loan options.
Why Should RWAs Go Solar?
• Drastic Reduction in #Electricity Bills: By generating your own clean energy, you can offset or even eliminate your monthly electricity expenses for common areas—such as lifts, water pumps, lighting, and EV charging stations. Societies in cities like Delhi and Mangalore have saved lakhs of rupees within just a few years of switching to solar.
• Environmental Impact: Solar energy is renewable and emission-free, helping your community reduce its carbon footprint and contribute to a greener future.
• Increased Property Value: Solar installations make your property more attractive to buyers and tenants, enhancing the overall value of your society.
Case Example: Reducing a ₹16,000 Monthly Bill to Zero
Suppose your RWA currently pays ₹16,000 per month, or ₹1,92,000 annually, for common area electricity. Here’s how rooftop solar can help:
• System Sizing: A typical solar plant of around 15-20 kW can generate enough energy to cover this consumption, depending on your location and rooftop space.
• #Zero Bill with Net Metering: With net metering, any surplus power generated is sent back to the grid, and you receive credits. This means your electricity bill can be reduced to zero, as seen in many societies that have adopted solar.
• #Payback Period: The initial investment is usually recovered within 4-5 years through savings on electricity bills. After that, you enjoy free power for 20+ years[2][6].
Direct Government Subsidy for RWAs
Under the PM Surya Ghar: Muft Bijli Yojana, RWAs are eligible for a central government subsidy of ₹18,000 per kW for rooftop solar installations used for common facilities, up to a maximum of 500 kW per society The subsidy is credited directly to your bank account after successful installation and inspection, making the upfront investment much more affordable.
Example Calculation:
• For a 20 kW system:
o Subsidy = 20 kW × ₹18,000 = ₹3,60,000
o This amount is deducted from your total project cost, reducing your financial burden significantly.
Easy Loan Facilities—No Financial Barriers
If your RWA needs financial assistance, several banks and financial institutions are ready to provide collateral-free loans specifically for rooftop solar projects. The process is streamlined, with interest rates starting as low as 6.75% and repayment tenures up to 10 years
• EMI vs. Savings: The monthly EMI can be structured so that it is equal to or less than your current electricity bill, meaning you start saving from day one[5].
• No Prepayment Penalty: You can repay the loan early without any extra charges.
How to Get Started
1. Consent and Documentation: Get approval from your RWA members and prepare the necessary documents (electricity bill, society registration, PAN, bank details, etc.)
2. Site Assessment: Contact us for a free rooftop assessment and proposal tailored to your association’s needs.
3. Apply for Subsidy: We will guide you through the online application process to ensure you receive the central government subsidy directly
4. Loan Assistance: If needed, we’ll connect you with bank representatives who are ready to process your solar loan quickly.
Contact Us for More Details
Ready to make your society energy independent and financially stronger?
• Mr. Tulsi Ram( Mobile : 6383364093) or Mr. Gokulraj (Mobile 9962001332)
• We will handle everything from feasibility study to installation, subsidy application, and loan facilitation.