StreeNidhi credit cooperative Federation Limited, promoted by the State government and the Mandal Samkahyas to supplement credit flow from the banking sector, has plans to provide loans to install rooftop net metering solar panel units on the houses of 10,000 Self Help Groups (SHG) members across the State as part of the State government’s effort to move towards clean and green energy.
The initiative would be implemented by the StreeNidhi in collaboration with the Telangana State Renewable Energy Development Corporation (TSREDCO). According to StreeNidhi DGM BVS Reddy, his organization has identified 300 mandals across the State for program implementation, with approximately 35 units installed in each mandal.
He stated that 14 rooftop net metering solar panel units in Ankole Camp village of Nasrullabad mandal and 22 in Thimmapur village of Birkur mandal in Kamareddy district have already been successfully installed. “Now we want to install solar panels in at least 10,000 houses of SHG members across the State. This will help them in saving not only money but also in making the environment more clean and healthy,” he said.
TSREDCO General Manager GSV Prasad stated that discussions on the scheme were currently taking place with StreeNidhi officials and that once all modalities were finalized, they would assist in the installation of grid solar rooftops.
BVS Reddy said that the process of selecting beneficiaries has already begun, and the program will be implemented soon.
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Reddy explained the scheme, saying that eligible SHG members would be financed to install 2 KW and 3 KW grid solar rooftops under the Akshaya scheme. Beneficiaries must have an RCC building with a slab that is at least 160 square feet to more than 200 square feet in size and consume at least 200-300 units of electricity per month to be eligible for a loan, he said.
He informed that StreeNidhi would provide 50% of the loan amount, while the government would bear a subsidy of up to 40% per unit and the beneficiary would be responsible for 10% of the remaining amount. This loan has the option of being repaid over five years at a fixed interest rate of 11 percent per annum, he added.
The total cost of the 2 KW unit is Rs 1,42,200, with a loan amount of Rs 1 lakh approved. Similarly, the total cost of 3 KW units is Rs 1,92,360, with a loan amount of Rs 1.25 lakh approved.
Total Number of Beneficiaries: 10,000 Total cost of 2 KW solar units: Rs 1,42,200 Total cost of 3 KW solar units: Rs 1,92,360 Loan amount for 2 KW units: Rs 1 lakh Loan amount for 3 KW units: Rs 1.25 lakh Subsidy amount for 2 KW units: Rs 39,200 Subsidy amount for 3 KW units: Rs 57,360.
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