Maharashtra Plans to Add 17,385MW Solar Capability within the Subsequent 5 years
The recent announcement by Maharashtra’s Minister of Energy, Nitin Raut, focuses more on renewable energy sources. The state wants to make 17,385 MW of solar projects “green” in the next five years.
It was previously estimated that Maharashtra could generate 25,000 MW from solar projects, but with this announcement from the Energy Secretary, the Department of Energy has developed a new ambitious Renewable Energy Policy (REP) to generate 17,385 MW from solar projects over the next five years.
Renewable energy policy will attract Rs75,000 billion investment in the energy sector and other related businesses.
In addition, the Maharashtra Electricity Regulatory Commission has set an ambitious goal for the state to meet 25% of its needs from renewable sources over the next five years.
With these recent developments in Maharashtra, now is the right time to turn to solar energy and do our part for a sustainable environment. Solar systems can be a great addition to any office or industrial facility as they help cut electricity bills by 80%, resulting in greater savings.
MYSUN has made the switch to solar easy through various financing options. Now you can easily calculate your solar savings with the solar calculator, which gives you an estimate of the total cost of a solar system. You can easily find out the amount of savings you will get from solar energy
With MYSUN solar finance, you can choose a payment plan that suits you. Here is a quick overview of the MYSUN solar financing plans:
CAPEX – Prepay the capital cost of the solar system
The term CAPEX means capital expenditure. With this financing method, you pay the entire cost of the solar system in advance. This is the best deal for your business as this method is interest free. It turns out to be the most profitable financing solution. The LCOE and the cost of the solar system are the lowest with this model and offer you the best ROI.
MYSUN DPA – Deferring solar costs in simple installments
With this type of financing, you can own the entire solar system by making a down payment of 25 to 30% and paying the rest over 3 to 5 years, depending on the chosen financing plan. So you can enjoy the benefits of solar energy with reduced electricity consumption and accelerated depreciation. With the DPA model, MYSUN designed the plan so that the monthly savings on the electricity bill are higher than the installments.
PPA (power purchase agreement) – Don’t pay anything for the solar system
With this model you do not have to pay any upfront costs for the solar system. You need to enter into a contract called the Power Purchase Agreement (PPA) with your solar installer or the third-party provider in order to purchase the electricity generated from the solar system. The agreement sets a tariff for the next 15 to 25 years.
Do not wait and start your solar journey with MYSUN today
With such a wide variety of solar financing and purchase options at MYSUN, there is no longer any reason for your company not to optimize its electricity costs. When you turn to solar energy, you can cut your electricity bill by millions and reinvest the amount to grow your business. Solarize your business today.
Go solar. Talk to MYSUN Solar Advisors on +91 8448380218 or write to them [email protected].