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 |
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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 |
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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 |