Vareyn Solar Announces Foray Into Residential Solar Sector

Highlights :

  • This comes after the announcement of PM Suryodaya Yojana which was launched by the Centre on January 22, 2024.
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Turn-key solar EPC company Vareyn Solar Pvt. Ltd. has announced its foray into the residential sector in the solar power industry. This comes after the announcement of PM Suryodaya Yojana which was launched by the Centre on January 22, 2024. This scheme aims to install rooftop solar panels on the houses of middle and poor-class citizens, reducing electricity bills and promoting clean energy.

As part of Vareyn Solar’s offerings, the company will facilitate the installation of rooftop solar panels with a focus on affordability and accessibility, read the press release by the company. Leveraging its expertise, Vareyn Solar will ensure safety certification by chartered electrical engineers and provide a 150 KMPH wind certification for all residential installations.

Additionally, Vareyn Solar has collaborated with Solar Edge, an Israeli company specialising in inverter solutions with optimizers. This partnership enhances energy generation, leading to greater savings for residential owners. The Solar Edge + model comes with a 5-year maintenance warranty, ensuring reliability and longevity. The company has also introduced an anti-monkey-damage cable management mechanism—a first in the solar industry. To further facilitate adoption, the company has partnered with Credit Fair, an NBFC in Mumbai, to offer attractive financial terms exclusively to Vareyn Solar’s residential customers.

The company also noted “Vareyn Solar’s expansion into residential solar solutions complements the PM Suryodaya Yojana. The company’s commitment to India’s clean energy transition now extends to empowering homeowners in Jaipur, Rajasthan, and soon, pan-India, providing cutting-edge solar technology.”

As per the latest statistics from the MNRE, the total capacity of grid-connected rooftop solar in India stand at around 11.08 Gigawatt (GW). MNRE had also issued a notification to increase the subsidies for residential rooftop solar to Rs 18,000 per kw. Although the Ministry of New and Renewable Energy (MNRE) had issued its National Rooftop Solar Portal in 2022 to provide a single platform for residential rooftop solar vendors to claim subsidies and choose the vendors of their choice, PM Modi announced a new portal, to streamline rooftop solar applications. Akin to the pre-existing National Rooftop Solar panel, the new portal also has similar facilities like a subsidy calculator, a list of financiers and a list of vendors. The PM Surya Ghar Scheme meanwhile also talked about the revised increased subsidies for rooftop solar projects. As per the details from the portal, consumers installing rooftop solar upto 2 KW will be eligible for subsidies upto Rs 30,000 per Kw.

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