Rooftop solar pays for itself over time through lower electricity bills, but the upfront cost can stop many households and businesses from starting. The good news: there are several ways to finance a system so that the EMI is close to, or lower than, the savings on your bill.
Option 1: Dedicated rooftop solar loans (homes)
Many banks, especially public sector banks, offer rooftop solar loans for households, including under the PM Surya Ghar scheme. These usually have simpler documentation and competitive rates for small residential systems. The government subsidy, once credited, can be used to reduce your outstanding loan.
Option 2: Home loan top-up
If you already have a home loan, a top-up loan can fund your solar system at rates close to your home loan rate, with a longer tenure.
Option 3: Personal loan
Quick to get and with minimal paperwork, but usually at higher interest rates. Best suited for small systems when other options are not available.
Option 4: Business term loan or equipment finance
For factories, offices and commercial buildings, a term loan or equipment finance can fund larger systems. Businesses may also be able to claim tax benefits such as depreciation, as per applicable rules — confirm with your CA.
Option 5: RESCO / OPEX model
A developer installs and owns the plant on your roof, and you pay only for the electricity generated at an agreed tariff. No upfront cost and no loan, but the savings are shared with the developer.
How to compare options
- Monthly EMI vs monthly bill savings: aim for the EMI to be covered largely by savings
- Total interest cost over the full tenure
- Processing fees and prepayment charges
- Subsidy timing: whether you can prepay the loan when the subsidy arrives
Plan your solar finance with ATTPL
ATTPL Finance can help you evaluate loan options — see our business loan and home loan services or contact us. For system design and installation, visit ATTPL Solar and read its industrial rooftop solar planning guide.
