Renewable energy, particularly solar power, has gained widespread popularity in India, thanks to government subsidies that have made it more affordable. Over the last seven years, both the Central Government and State Governments have demonstrated their commitment to the renewable energy sector. They have set ambitious targets, aiming for 175 GW of renewable energy capacity by 2022 and a whopping 500 GW by 2030. The provision of financial subsidies, facilitated through the Central Financial Assistance (CFA) program by the Ministry of New and Renewable Energy (MNRE) and executed by various state distribution companies (DISCOMs), has been a driving force in encouraging the adoption of rooftop solar systems throughout the country, including in rural areas and villages.
In the state of Kerala, the State Electricity Board has recently launched an enticing solar subsidy initiative for residents. This program offers a substantial 40% subsidy on rooftop solar panels, ensuring a minimum twofold return on investment. Given the ever-increasing cost of conventional electricity, transitioning to sustainable sources of energy has become imperative for meeting our essential energy needs.
KERALA HOMES SOLAR POWER PLANTS COSTS - March 2023
Do you have information regarding the cost of solar systems? Here are some figures that provide an overview of the prices for various residential solar systems currently offered in the market. The selection of an optimal home solar power system and its individual components will be contingent on factors like the size of your property and its specific energy consumption requirements, which can vary from 1 kWp to 10 kWp for household use. Typically, as of March 2023, the cost of a solar power plant per kWp in Kerala is as follows:
