Madhya Pradesh Government devises a scheme to provide solar panels at subsidized rate

The state Government of Madhya Pradesh has planned out a scheme of subsidies to motivate the residents to install solar panels. Citizens, who will apply for solar panel producing 2kW solar energy, will be provided with a subsidy of Rs 45000.

The actual cost of the panel is Rs. 1.5 lakh. Solar panels can save Rs 15000 to Rs. 17000 invested on electricity in a year. Experts from solar industry believe that installation of solar panel would not be a costly affair since a household would be able to save the amount invested in around five years.

To ease the process of subsidy, the government has authorized some companies to provide the subsided solar panels.

Anurag Mundra, Joint Director, Ujaas Energy Limited said, "We will sell the solar panels at subsidized rates. Customers will not have to run to government offices for subsidies. The government will transfer the subsidized amount to us."

However, experts also said that while the generation of power will be mostly in day time, the use will be mostly at night. Most of the people will be out for work during day time, then maintaining a storage system will be expensive. Maintenance of battery will increase the initial cost.

Source:ET