India: National Subsidy Scheme Phase II
Country / region |
India |
Name of programme |
Capital subsidy scheme for installation of solar thermal systems |
Type of incentive |
Subsidy, combined with low-interest loan |
Eligible technologies |
|
Applicable sectors |
Residential, industrial, commercial and public |
Subsidy Amount |
30 % of average benchmark system costs, which includes the costs of the collector, tank and mounting system. The benchmark costs in 2014-2015 have been set as listed below (30 % of the benchmark costs in brackets).
Special Category States: Subsidy is 60% of benchmark costs |
Maximum subsidy |
Between 2,400 and 6,600 INR/m², depending on technology and site. Benchmark costs and maximum subsidies are adapted from time to time. |
Terms of loan |
Beneficiaries are eligible to obtain a bank loan, which would be lent at the bank’s commercial rates (usually, 10 to 12.5 %). The last monthly rates at MNRE incentive level are waived off. |
Requirements for system |
Components must be certified by the Bureau of Indian Standards (BIS) in case of flat plate collectors and according to MNRE standards in case of vacuum tube collector systems. |
Finance provider |
|
Total funds |
Not specified, but will be limited to National Solar Mission target of 8 million m2 between April 2013 and March 2018. The amount of funding may be reviewed from time to time, however. |
Funding source |
Public funds |
Effective date |
1 April 2014 |
Expiration date |
Incentives will be paid as long as funds are available. |
Website |
http://mnre.gov.in/file-manager/UserFiles/Off-Grid-&-Decentralized-Solar-Thermal-Application-Scheme.pdf |
Last review of this tabloid |
July 2014 |
Contact |
Secretary, Ministry of New and Renewable Energy, Government of India Phone: +91-11-24361481 |