Solar Rooftop Subsidy in Maharashtra
Solar energy is one of the most promising renewable energy sources in India. In recent years, the government of Maharashtra has introduced various initiatives to promote the use of solar energy in the state. One of the most significant initiatives is the solar subsidy offered by the Maharashtra government to encourage residents and businesses to install solar panels.
In this blog we will discuss all the know-how of Solar Subsidy offered by Maharashtra Government.
How much subsidy is available?
Subsidy is available on government benchmark cost. The Government benchmark cost is Rs. 36,470 per kW.
Government has divided subsidy calculation in three parts:
1 kW to 3 kW : 40% on benchmark cost i.e. Rs. 14,588 per kW
4 kW to 10 kW : 20% on benchmark cost i.e. Rs. 7,294 per kW
Above 10 kW : Fix amount of Rs. 94,822
It means subsidy is available only upto 10 kW, however any consumer may install system above 10 kW but Subsidy amount calculation is restricted till 10 kW.
Now, how will you calculate your subsidy amount? Lets assume your Solar System capacity is 5 kW.
Here, the first 3 kW will be calculated with 40% of benchmark cost i.e. 3 x 14,588 and the rest 2 kW will going to be calculated by 20% of benchmark cost i.e. 2 x 7,294.
So, your total Subsidy amount will be
3 x 14,588 = 43,764 (For the first 3 kW)
2 x 7,294 = 14,588 (For the rest 2 kW)
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Total=Rs. 58,352 (Subsidy amount for 5 kW)
