Su-Kam Power Systems, India’s leading power backup solutions provider, has launched easy finance schemes for solar installations in residences to customers in Tamil Nadu (TN). This move is aimed at making solar installations at residences highly affordable to customers by doing away with high initial cost of installation of these systems.
This pilot project in TN aims to make solar systems affordable to residential customers in the state, and this programme will be extended to other parts of India soon.
Su-Kam has tied up with Shriram City Union Finance Ltd. which shall be providing easy finance schemes to all customers keen to install a solar system at their residences under the ‘Green EMI product scheme.’ All customers approaching Su-Kam’s channel partners in TN can avail these schemes depending upon the capacity of the solar system installed.
Speaking on the occasion, Dhananjay Sharma, GM-Global Solar, Su-Kam Power Systems said, “To cite an example, by availing this scheme, a household can get a 1 KW solar Grid system installed at a mere monthly installment of Rs 2800 thereby reducing the initial cost of solar installation in a household substantially and making it highly affordable. By introducing this easy financing scheme, we are trying to address the initial apprehensions of customers who think that solar is not within their reach due to initial cost factors. ”
He added that besides providing easy finance and removing their initial apprehensions, the target of the programme is to educate customers about the long term benefits of installing a solar system at one’s household. “A solar system installation in a household is like an investment that shall only reap benefits for the customers in the long run. ROI on a solar system is easily achievable within 2 years of the system’s installation thereby enabling a customer to in-turn earn revenue from the free electricity generated by the solar system for the next 25 years!.” Sharma noted.
Under the finance scheme offered by Shriram, customers can avail a maximum of five lakh at an interest of 5.5% per annum for a 12 month EMI (equated monthly installment) scheme and an interest of 5.99% per annum for an 18 month EMI scheme.