Key benefits of residential solar financing solutions
Switching to Tata Power Solar is now easy for homes, with several key benefits offered through our residential solar financing solutions listed below:
- Independent houses
- Co-operative housing societies
Pradhan Mantri Surya Ghar Muft Bijli Yojana
Financing for Systems <= 3 KW:
PSU:
Regional Rural Bank (RRB):
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*Limited locations applicable for Regional Rural Bank (RRB)
Financing Options for Systems > 3 KW:
PSU:
Private Bank:
Regional Rural Bank (RRB):
NBFC:
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*Limited locations applicable for Regional Rural Bank (RRB) & Ecofy
CAPEX Financing
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SD – Security Deposit, BG – Bank Guarantee
OPEX Financing - PPA
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SD ? Security Deposit, BG ? Bank Guarantee
Key benefits of solar financing solutions for business
Switching to Tata Power Solar is now simple for businesses, with customized OPEX and CAPEX solutions,. Enjoy flexible, hassle-free payment options and a host of other benefits, outlined below:
- CAPEX financing
- OPEX financing
Financing schemes for non-residential CAPEX
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Finance schemes for non-residential OPEX
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Types of solar financing solutions in India
Tata Power offers a range of solar financing options in India, that includes CAPEX and OPEX solutions, home loans, leases, and government-backed schemes. Mentioned below are the details of types of solar financing solutions:
- CAPEX Financing
- OPEX / PPA model
- Solar loans / EMIs
- Lease model
- Government subsidy financing
How to apply for solar financing
Disbursement and installation
Once approved, funds are released and installation begins.
Tips for a smooth application:
- Ensure all documents are complete and accurate.
- Choose a financing option that matches your payment capacity.
- Contact Tata Power support if you have questions during the process.
Frequently asked questions
Unlock answers to some of the most crucial inquiries about solar financing in India, solar loan enquiry, and more. Please refer to this section for any queries you may have
- FAQs
Solar financing in India refers to financial solutions such as loans or leases that help individuals and businesses install solar panels without paying the full cost upfront. Through solar panel financing, customers can spread the investment over time with affordable EMIs, making solar energy more accessible and budget-friendly.
In India, companies like Tata Power Solaroof partner with banks and financial institutions to offer structured solar financing options. These solutions allow you to start saving on electricity bills immediately while benefiting from government subsidies and incentives such as the PM Surya Ghar Yojana.
Solar financing works by reducing the upfront cost barrier and providing flexible repayment plans that suit your budget. With streamlined processes and nationwide availability, solar financing in India makes clean energy adoption easier for homes and businesses alike.
Solar loan documents required to apply in India include:
- Proof of identity (such as Aadhaar card, PAN card, Passport, or Voter ID)
- Proof of address (Utility bill, Aadhaar, Passport, or Ration card)
- Income proof (salary slips, bank statements, or income tax returns)
- Recent passport-sized photographs
- Property ownership proof or rental agreement
- Solar installation quotation or agreement from Tata Power Solaroof
These documents help verify your identity, financial status, and property details when applying for solar financing. Requirements may vary slightly depending on the financing scheme or your location.
If you are wondering how to apply for solar financing, having these documents ready will speed up your loan application and approval process.
Those eligible for solar financing include:
- Residential customers owning independent houses or residing in co-operative housing societies
- MSMEs looking to install solar rooftop systems on commercial premises
Applicants should meet basic credit criteria and provide the required documentation
Note: Eligibility criteria may differ depending on the financing scheme and location.
Interest rates for Tata Power solar loans vary by scheme:
- For residential loans under 3 kW systems (PM Surya Ghar Muft Bijli Yojana), rates start as low as 7.10% p.a.
- For systems above 3 kW, rates range from 8.3% to 10.25% p.a.
MSME financing offers rates starting at 7.35% p.a. under limited period schemes
Note: Rates are subject to change based on market conditions and government policies.
CAPEX financing is a loan option where you finance the full cost of your solar rooftop system upfront using borrowed funds. With this model, you own the solar system from day one and repay the loan over a fixed tenure with interest.
This approach is especially beneficial for businesses and MSMEs seeking solar financing for business needs. By opting for a MSME solar loan, you can take full advantage of solar subsidy with loan options available under various government solar schemes in India. Owning the system outright helps you maximize long-term savings on electricity bills and benefit from subsidies like the PM Surya Ghar Yojana.
CAPEX financing is ideal for those who want complete ownership and control of their solar installation while spreading the initial investment over manageable EMIs.
PM Surya Ghar Muft Bijli Yojana is a government-backed scheme that supports residential solar rooftop installations under 3 kW by offering:
- Subsidized interest rates (starting at 7.10% p.a.)
- Minimal margin money (5%)
- No collateral requirement
This scheme aims to make solar energy affordable and accessible to households across India, and Tata Power facilitates easy access to this financing option. If you’re wondering how to apply for this scheme in 5 simple steps, read here.
Yes! Tata Power Solaroof financing allows you to combine solar subsidy with loan options to lower your upfront costs. The government subsidies available under various government solar schemes in India are directly adjusted against your loan or payment, allowing you to benefit from both financial assistance and convenient loan repayment plans.
Several banks and NBFCs offer competitive solar loan options, including SBI, SIDBI, and others. Tata Power Solaroof works with multiple trusted financial partners to help customers find the best-fit financing based on their location and needs.
Yes, solar systems can be purchased on EMI through various banks and NBFCs. Tata Power Solaroof partners with leading financial institutions to offer flexible EMI options, making solar affordable for both homes and businesses.
You can apply for a solar loan through banks, NBFCs, or directly via your solar provider. If you're going with Tata Power Solaroof, their team assists with loan application, documentation, and coordination with financing partners to simplify the process.
Most financial institutions require applicants to be between 21 and 60 years of age. When applying through Tata Power Solaroof’s partner network, these same eligibility criteria generally apply.
Solar loan tenures typically range from 5 to 10 years, depending on the lender and system size. Tata Power Solaroof offers financing options with tenures of up to 10 years for residential and up to 7 years for MSMEs through partner institutions.
A finance charge includes interest, processing fees, and any other applicable costs set by the lender. Through Tata Power Solaroof’s partnerships, customers often benefit from lower interest rates (starting at 7.10% p.a.) and reduced or zero processing fees under select schemes.
