Solar Financing for Retail Customers

Recently I read the news that Borg  Energy has partnered with Shriram City Union Finance and Bajaj Finserv Lending to enable retail customers to purchase a micro solar power plant.

This is an interesting trend in India’s off-grid solar industry.

The tie-up with see Shriram offering customers 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. Bajaj Finserv is offering a maximum loan of Rs 4.5 lakh at an interest rate of 6.5% per annum for a 12 month EMI scheme.

I remember having presented this idea to an upcoming solar module manufacturer in 2011. But the idea was rejected saying that we don’t want to initiate this trend and let others take advantage of our hard work.

Anyway, this new partnership will encourage financing companies to lend to retail customers for solar products just like cars, TVs. ACs, etc

 

No big revolution expected soon but slowly this may catch on. 

Quite in sync with my previous discussion on retail of solar panels:

https://bharatvasandani.wordpress.com/2013/10/03/solar-panels-now-in-the-retail-market/

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3 Responses to Solar Financing for Retail Customers

  1. jd says:

    Ariot Energy Private Limited has been doing this for corporate clients for over 2years now.

    Like

  2. Hello JD…thanks for the update. It will be great to know more about Ariot Energy and what kind of financing it can help corporate clients with.
    Maybe we can use this platform to spread more awareness on this.

    Like

  3. Pingback: Solar Financing for Retail Customers | Green | ...

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