Solar Loan | Explicit Finances

Solar Financing: Invest in Energy Independence

India's solar movement is no longer just about sustainability. It's about energy independence, cost control, and long-term business resilience. Whether you're a homeowner planning rooftop installation or a factory looking to reduce operating expenses, the right solar finance solution can transform your energy economics.

For MSMEs and factories, electricity is not just a utility expense — it is a major operating cost. Industrial electricity tariffs in India are among the highest in the energy ecosystem. A mid-sized factory can easily spend ₹5–8 lakh every month on power. Solar changes the structure of this expense entirely.

Why MSME Owners and Homeowners are Moving to Solar

Significant reduction in monthly electricity bills
Protection from future tariff hikes
Long-term cost predictability
Tax benefits through accelerated depreciation
ESG benefits — stronger positioning with clients and partners
Government subsidies available under PM Surya Ghar Yojana

PM Surya Ghar Muft Bijli Yojana — Subsidies Available

The PM Surya Ghar Muft Bijli Yojana offers substantial subsidies for residential rooftop solar installations:

Up to 2 kW: ₹30,000 per kW (₹60,000 for 2 kW)
Additional 2–3 kW: ₹18,000 per kW
Maximum subsidy: ₹78,000 for 3 kW and above
Up to 300 free electricity units per month via net metering
State-wise additional subsidies also available

☀️ How it works: The PM Surya Ghar subsidy reduces your installation cost by 30–40%. A solar loan from Explicit Finances covers the balance — with EMIs often offset by your monthly electricity savings!

Commercial Solar Loans for Factories & MSMEs

For factories and industrial units, commercial solar loans allow businesses to install rooftop or ground-mounted solar systems without disrupting working capital:

Site assessment by expert solar partners
Loan disbursement directly to solar vendor in stages
EMI aligned with expected electricity savings
Tenure up to 84 months for comfortable repayment

What the Numbers Look Like

Consider a factory installing a ₹2 Crore solar system:

Previous electricity bill: ₹7–8 lakh per month
Post-solar grid cost: ₹2–3 lakh per month
Estimated monthly savings: ₹4–5 lakh
EMI structured over 84 months: Within sustainable range
Result: Immediate cost reduction + long-term margin expansion

Who Can Apply for a Solar Loan?

Homeowners with residential rooftop space
Factories and manufacturing units
MSMEs and warehouses
Industrial units with high electricity consumption

Basic Requirements

2–3 years of business operations (for commercial)
Stable turnover and clean repayment history
GST compliance (for businesses)
Electricity usage records (last 6–12 months)
Solar vendor quotation

Annual Savings Estimate

Residences: Save ₹15,000–₹18,000+/yr
Small MSME: Save ₹50,000–₹2 lakh/yr
Factories: Save ₹40–₹60 lakh/yr

Estimates vary based on location and system size

Other Loan Products

FAQs

Solar Loan FAQs

The subsidy (up to ₹78,000) is credited directly to your bank account after installation. You can use this amount to reduce your loan principal, effectively lowering your EMI burden from the start.

Yes! For smaller residential solar systems, we offer collateral-free solar loans. For larger commercial installations, the assessment will be based on business financials and project viability.

We work with a network of MNRE-approved solar installation partners. The loan is disbursed directly to the vendor, and our team helps you navigate subsidy applications and net metering setup.

Net metering allows you to export excess solar power to the grid and receive credits on your electricity bill. This can further reduce your monthly electricity costs and improve your loan repayment comfort.

Go Green. Save Energy. Finance Smarter.