April 17, 2024
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    Solar power generation: Loan interest relief for all domestic consumers

    March 23, 2017

    Cabinet of Ministers has granted its approval this week to grant all the domestic electricity consumers the relief on loan interests for installing solar panels.

    The Budget 2017 introduced the program to grant relief on loan interests for installing solar panels for domestic electricity consumers, who receive a monthly bill of over Rs. 2000/-. But, later it was revealed that about 40% of electricity consumers get a bill less than Rs. 300/-.

     

    Accordingly, to make this program a success,  it was proposed to grant the relief to all consumers and for loans obtained from any state or private bank and to increase the limit of the loan from Rs. 150,000/- to 350,000/-. The proposal was made by Minister of Power and Renewable Energy Ranjith Siyambalapitiya.

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