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FINANCING
Soft Loans for Solar Water Heaters
The Ministry of Non-Conventional Energy Sources (MNES), Government of India, has introduced a Soft Loan Programme for solar water heaters to offset the high initial investment for these heaters. The loan disbursal would be implemented through seven designated banks and the Indian Renewable Energy Development Agency (IREDA).
The use of solar water heaters can meet a significant portion of the conventional energy being used for heating water in homes, factories and other commercial and institutional establishments. This will result in significant savings of fossil fuels, cutting emissions of greenhouse gases. It is estimated that over 30 million sq m of collector area has so far been installed worldwide for heating water.
An allocation of Rs 6.5 crore has been made for the Financial Year 2002-03. These budget heads would focus on the areas of demonstration, technology utilisation and market development subsidy. The physical target has been fixed at 50,000 sq m of collector area.
TERMS OF LOANS UNDER THE BANK SCHEME
- Capacity: Up to 2,000 litres of hot water at 60-80 0C per day
- Loan amount: 85 per cent of the ex-factory or ex-showroom cost of the system
- Soft loan interest: five per cent per annum
- Loan repayment period: five years
- Repayment starts at three months after the release of funds to the consumers
PENALTY FOR DEFAULTED LOANS
- For defaulted loans, banks may charge penal interest @ 2% over and above the stipulated interest rate
ELIGIBILITY FOR LOAN
- Any individual, institution, association, business establishment, etc
ELIGIBLE SUPPLIERS
- Suppliers of solar water heaters with Bureau of Indian Standards (BIS)
- The cost includes the cost of collector, insulated hot water storage tank, system pipings, instrumentation, controls and five years' maintenance
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Features |
Capacity |
Uses |
| Hot water |
60-80 o C |
Hotels, hospitals, homes |
| SWH |
100-300 litre capacity |
Homes |
| SWH |
>300 litre capacity |
Hotels, industry, etc |
| Fuel savings |
100 litre capacity |
1,500 units of electricity/year |
| Environmental benefits |
Capacity 100 litre and Life -15-20 years |
Prevent emission of 1.5 tonnes of CO2/year |
| Cost |
100 litre
Higher capacity
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Rs 18,000
Rs 150 more per installed litre |
| Payback period
| 2-3 years
4-5 years
6-7 years |
Replacement of electricity
Replacement of furnace oil
Replacement of coal |
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Avoid utility cost on generation |
1,000 SWH of 100 litre |
Peak load shaving of 1 MW Capacity |
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STATISTICS
MNES Programmes
- 18,000 remote villages to be electrified by 2012
- A 40 kW solar power plant inaugurated at Nyoma, Ladakh
- More than 40 applications of SPV systems developed for rural and remote areas
- More than 4,500 SPV pumps in use for agriculture and related uses
- Over 4,000 potential sites for small hydro projects with 10,000 MW capacity identified
- A 5.25 MW small hydro project commissioned at Kalpong in the Andaman and Nicobar Islands
- A first-of-its-kind project for generation of 2,500 cu m of biogas from 60 tonnes per day of slaughter house waste installed at Al-Kabeer, Medak, in Andhra Pradesh
- A first-of-its-kind project for the treatment of five tonnes of tannery waste and generation of biogas and 62 kW of electricity installed at Melvisharam in Tamil Nadu
- Indoor air quality studies taken up in rural areas of five different climatic zones of the country
- 125 renewable energy sales and servicing outlets and 150 women self-help groups promoted
- Centres of entrepreneurship development of various states involved in conducting training for rural youths
- Integrated Rural Energy Programme (IREP) is being strengthened as a Centrally sponsored scheme in the Tenth Plan. Eight hundred and sixty blocks have already been taken up
- Four IREP centres are operational at Bakoli (Delhi), Chinhat (Lucknow), Uttar Pradesh; Jakkur (Bangalore), Karnataka; and village Amrol, Kheda district, Gujarat.
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