How Long Does It Take to Recover the Cost of Installing 1kW, 3kW, and 5kW Solar Panels?
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If you are a domestic electricity consumer and want to install a 3 kilowatt solar panel on the roof of your house, the bank will give you a loan of Rs 2 lakh without guarantee. You will have to pay an annual interest of 5.75% to the bank. Under the PM Surya Ghar-Mufta Bijli Yojana, the electricity company is providing the facility of bank loan at a low interest rate, so that the agency installing the rooftop solar does not face any problem in pa…
The first question that comes to mind when installing solar panels is how long it will take to recover the total cost of the connection. In fact, this depends on the capacity of the solar system you are installing. Generally, after deducting the subsidy, you have to spend 40 to 70 percent of the total cost of the solar system from your own pocket, which can take 3 to 5 years to recover. Although some amount is returned to your bank account as a …
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