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OCT 17 2016

Govt to provide solar panels at subsidized rate

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 17th OCT 2016

In order to motivate people to install solar panels in their homes, the state government has come up with a scheme of subsidies. People, who will apply for solar panel producing two kilowatt solar energy, will be provided a subsidy of Rs 45,000.

The actual cost of the panel is Rs. 1.5 lakh. Solar panels can save Rs 15,000 to Rs. 17,000 invested on electricity in a year. Experts said 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.

"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," said Anurag Mundra, joint director, Ujaas Energy Limited. 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


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