Small, medium and large enterprises alike can benefit greatly from a solar energy system. Solar power can not only lower your electricity bills, but it can also lower your owing taxes and raise the value of your home.
Technological advances have lowered the cost of solar system components, and attractive government incentives have sweetened the deal. But it remains true that solar energy requires a significant initial investment. You can also get more information about the business solar capitalize online.
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Financing tools are a valuable resource for contractors to take advantage of. And solar financing options have one main goal in mind: to help provide solar contractors the financial means to complete more projects.
Local banks are consistently the largest financiers of commercial solar projects in India. Banks offer a low-interest rate of 11-13% but may require collateral of up to 100% of the loan amount.
These institutions start with loans for 7-10 years. However, thanks to the heavy regulatory burden and paperwork that companies have to complete before they can start a solar project, they can now lend for up to 15 years.
NBFCs/non-bank financial institutions, such as the Indian Agency for Renewable Energy Development Limited (IREDA), are willing to offer concessional loans for commercial solar projects.