Solar loans are in place to make solar energy more affordable – and help businesses/offices avoid use of inverters which are also dependent upon grid electricity to charge battery and generators which run by fossil fuels (diesel, petrol) .
FEATURES OF THIS PROGRAM
- Affordable and flexible – avoid large upfront costs all together, or make an up-front payment and lower the monthly cost of your lease.
- Maintenance-free and worry-free – you won’t be responsible for system repairs or maintenance, your monthly installment is all you are charged.
- Fixed cost – your monthly cost is fixed, regardless of how much energy your system produces
For Solar packages over 1500Wp
Interest rate: 4.5% | Payback period : 60 months | Financing available : up to 70% of the project | Subsidy Rs. 20000 from government |
Documents to be submitted to apply for Commercial Solar Loan are:
- Citizenship copy of the director/proprietor
- Recently taken pp size photograph (4 copies)
- Copy of lalpurja of the home in which you plan to install the system
- Copy of citizenship certificate of the land/house owner
- Tax clearance certificate
- Business Registration certificate and PAN certificate
- MOA/MOU and business authorization letter if applicable.
- Board Minute (If applicable)
- Copy of the citizenship certificate of the guarantor
- Audited financials of last 3 years and projected for next year
- Bank statement of last 6 months
- Multiple Banking declaration (self-declaration)