If you’ve been in the Solar Energy Industry for the past 3-4 years and you’re beginning to think the excitement of the government might have died for Solar Energy, I’d like to stop you right there. The government has introduced yet another scheme for the Solar Energy sector which is an opportunity for those doing business and affordable & beneficial for the end customers.
This time beneficiary is a very niche industry- Small Powerloom units. The government approved financial assistance for these units for both on-grid and off-grid solar plants (refer). The aim is to lift the financial burden of paying bills and to make these units self-sufficient. Also, to provide energy security to those units that face a lot of power cuts. The subsidy scheme design is based on the category of people availing the subsidy as given below (refer):
- General Category: 50% Subsidy
- Scheduled Caste: 75% Subsidy
- Scheduled Tribe: 90% Subsidy
The sizes of the projects are pre-defined (4 kW, 6 kW and 8 kW) specifically for the de-centralized powerloom sector. Further, the maximum subsidy available against each size is also pre-defined as shown below:
The cost estimates made for each of these projects are quite realistic and hence, even the subsidy amount seems pretty good for the propagating Solar Energy in this sector. From the statement given by the Union Minister 480 such units will be covered. We have worked out the payback periods for each of the above as well (as shown below) and they look breathtaking. Have a look:
|Project Cost (Refer Solar EzyBoM )||2,55,011||3,65,124||4,90,431|
|Subsidies that can be availed||50%||75%||90%||50%||75%||90%||50%||75%||90%|
|Project Cost after Subsidy||1,27,505||63,752||25,501||1,82,562||91,281||36,512||2,45,215||1,22,607||49,043|
|Assumed Electricity Bill||10000||20000||30000|
|Electricity Bill after Solar||4600||11900||19200|
|Payback Period||23 months||12 months||5 months||22.5 months||11 months||4.5 months||23 months||11 months||4.5 months|
If you’re in the textile industry and reading this, you’re lucky to be in this industry. The government is making efforts to reduce your electricity bills. Now it’s your turn to jump on this opportunity with whopping subsidies. The government also provides subsidy to the Residential, Institutional and Social Sectors of 30% (refer) to all the states and 70% to special states (Sikkim, Uttarakhand, Himachal Pradesh, J&K, Lakshadweep and Andaman & Nicobar Islands)
If you belong to either of the above segments and planning to go solar, subsidy can be availed through Ezysolare. Call on +91 9543970870 and +91 9824155820 for placing your enquiry with Ezysolare and we shall assist you with your installation request in a jiffy.