As Banks Stay Away, Solar Developers Tie Up With NBFCs To Finance Rooftop Projects


As Banks Stay Away, Solar Developers Tie Up With NBFCs To Finance Rooftop Projects

Ignored by large banks, rooftop solar project developers are offering finance to customers from their own books, in addition to tying up with NBFCs to meet the upfront costs.

According to Maxson Lewis, director of rooftop solar developer Magenta Power, the need for upfront payment is one of the biggest constraints for the growth of the rooftop solar sector. “The concept is new and for people to put money upfront is difficult,” he said.

A typical 5 Kw solar rooftop system for residential consumers costs around ₹2.5-3 lakh. Read more

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