By choosing the option of Self/own funding, the financial aspect of the project will be managed solely by the customer.
Under the banking model, customers will be able to take a direct loan from the bank to fund their solar energy project. The bank will help up to 70% of the disbursement of the total project coast and customer need to pay EMI as per the schedule. The EMI calculated will come approximately to the electric bill saved. Once the loan tenure is completed customer will enjoy free electricity from solar.
The Build-own-operate and transfer model is a new concept in India’s solar power market. It is a model whereby the solar company setup or install the plant at customer site.
An agreement is signed between the company and customer, laying out a timeline for operations and then transferring the unit to the customer. With this system, the company operates the solar power system and the customer pays the charges for consumed energy. Till the customer gets final ownership, they will enjoy the benefits of solar power on a lease from the company under the BOOT model.