MNRE has revised its guidelines for procuring subsidy from NABARD for Solar PV systems and Solar Water Pumps in OCT 2014, below are few highlights from the revised guidelines Eligibility Only individuals, SHGs, NGOs and Farmer Groups are eligible under this scheme Benchmark Costs / Subsidy Percentage – Minimum available subsidy is Rs 24 / Wp Rs 75 / watt Subsidy for systems up-to 300Wp Rs 39 / watt with Battery Power Plant Rs 24 / watt without battery bank Rs 28800 / HP for solar water Pumping system Loan and Margin Money 20% of system cost has to be paid as margin money 40% cost of the system can be financed from the bank in minimum rate with term of 5 years Remain 40 % Subsidy Procedure Submit an application to procure a loan for Solar home lighting system/Solar water pumping available from NABARD at your local bank After your loan application is approved, you would have to deposit 20% of the margin money, d...
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