Telangana to Announce Equated Monthly Installment (EMI)-Based Rooftop Installation Program
An Equated Monthly Installment (EMI)-based rooftop installation program for individual consumers is on the charts in Telangana. The state government of Telangana held discussions with banks to tie up for the new program. In the beginning the program will be available to government employees in the state.
The program is in the final stages of planning. Each individual household will be able to install solar panels on their roof to produce the power needed to meet their needs and the cost incurred can be paid through EMIs, according to a report by HansIndia.
“This will result in active participation from the general public and help the state to attain rooftop solar targets set by the Ministry of New and Renewable Energy (MNRE). The state has a rooftop solar target of 2,000 MW by 2022, out of which close to 50 MW have been installed so far,” stated an official at Telangana New and Renewable Energy Development Corporation (TNREDCL).
When implemented, this EMI program is expected to be the gamechanger for rooftop solar in Telangana, added the TNREDCL official.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.