Zunroof will charge a nominal processing fee of Rs 10,000 per kilowatt (kW). While the monthly payments will be spread over seven years, which would begin only after net metering is implemented
New Delhi: ZunRoof, a residential solar rooftop company, on Thursday launched its monthly payment plan for installation of new residential rooftops in Delhi at Rs 660 per month. All homeowners in Delhi who have roof rights for their house are eligible to apply for this plan.
It added that the plan will be rolled out in other cities soon.
According to the company press release, Zunroof will charge a nominal processing fee of Rs 10,000 per kilowatt (kW). While the monthly payments will be spread over seven years, which would begin only after net metering is implemented, to allow homeowners to save cash from day one and pay for the solar rooftop installment from monthly savings.
“In today’s unprecedented times, it becomes all the more important to be there for everyone who wants to go solar and thus, helping them make the payment over 84 months or seven years can be a game changer,” said Pranesh Chaudhary, founder and chief executive officer, Zunroof.
He added that the firm is putting a moratorium on upfront investments and simultaneously promoting solar adoption in India.
At present, residents have to pay about Rs 1-1.5 lakh per kW for a solar rooftop, which adds up to over Rs 5 lakh upfront investment for a 5-kW system. This plan, the company said, would dramatically reduce the cash outflows for new customers.
“Preservation of cash is very critical in these times and this plan would be a gamechanger in helping homeowners save huge amounts in electricity bills while they work from home, without digging any hole in their pockets,” Pranesh said.
He added that the firm has created an underwriting process within their mobile app to smoothly facilitate this plan.
The Haryana-based company has installed more than 15 MW of residential rooftop solar and above 50,000 IoT devices overall. Zunroof is the first residential solar rooftop company to launch a monthly payment plan in India.