{"id":86,"date":"2026-01-02T13:24:52","date_gmt":"2026-01-02T13:24:52","guid":{"rendered":"https:\/\/credveda.com\/blog\/?p=86"},"modified":"2026-01-02T13:26:45","modified_gmt":"2026-01-02T13:26:45","slug":"how-to-get-loan-for-solar-power-plant","status":"publish","type":"post","link":"https:\/\/credveda.com\/blog\/how-to-get-loan-for-solar-power-plant\/","title":{"rendered":"How to Get a Loan for a Solar Power Plant in India"},"content":{"rendered":"\n<p>Electricity costs in India continue to rise for homes, businesses, and farms. Solar power offers a smart solution: <strong>lower bills, predictable energy costs, and long-term savings<\/strong>. The good news? <strong>Financing a solar power plant in India is easier than ever<\/strong>\u2014but only if you understand the process and prepare correctly.<\/p>\n\n\n\n<p>This guide is designed for:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Homeowners<\/strong> planning rooftop solar.<\/li>\n\n\n\n<li><strong>MSME &amp; commercial users<\/strong> installing solar to cut operating costs.<\/li>\n\n\n\n<li><strong>Farmers &amp; entrepreneurs<\/strong> setting up ground-mounted plants, including under <strong>PM-KUSUM<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>By the end, you\u2019ll have a clear roadmap on <strong><a href=\"https:\/\/credveda.com\/blog\/how-to-get-loan-for-solar-power-plant\/\">how to get loan for solar power plant in India<\/a><\/strong>\u2014from planning to disbursement.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"720\" height=\"400\" src=\"https:\/\/credveda.com\/blog\/wp-content\/uploads\/2025\/12\/solar-loan.webp\" alt=\"Solar Loan\" class=\"wp-image-96\" srcset=\"https:\/\/credveda.com\/blog\/wp-content\/uploads\/2025\/12\/solar-loan.webp 720w, https:\/\/credveda.com\/blog\/wp-content\/uploads\/2025\/12\/solar-loan-300x167.webp 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Understanding Solar Loans in India: The Basics<\/strong><\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.credveda.com\/solar-loan.html\" target=\"_blank\" rel=\"noreferrer noopener\">solar loan<\/a> is <strong>not just a personal loan<\/strong>. Most lenders treat it as <strong>asset-backed financing<\/strong>, where the solar plant itself generates savings or income to repay the loan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>Types of Solar Financing<\/strong><\/h3>\n\n\n\n<p><strong>. Rooftop Solar Loans<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Typically for homes and small businesses.<\/li>\n\n\n\n<li>Often linked to home loans or special green-energy schemes.<\/li>\n\n\n\n<li>Faster approval and simpler documentation.<\/li>\n\n\n\n<li>Competitive rooftop solar loan interest rates.<\/li>\n<\/ul>\n\n\n\n<p><strong>2. Ground-Mounted \/ Commercial Solar Project Finance<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Used for MSMEs, factories, and solar parks.<\/li>\n\n\n\n<li>Requires a <strong>Detailed Project Report (DPR)<\/strong>.<\/li>\n\n\n\n<li>Loan approval depends on project viability and cash flows.<\/li>\n<\/ul>\n\n\n\n<p>Common under <strong>commercial solar financing<\/strong> or utility-scale projects.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Are You Eligible? Key Criteria for a Solar Loan<\/strong><\/h2>\n\n\n\n<p><strong>For Individuals \/ Homeowners<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>CIBIL score<\/strong>: Usually 650+ preferred.<\/li>\n\n\n\n<li><strong>Property ownership proof<\/strong> (roof rights are essential).<\/li>\n\n\n\n<li>Stable income source.<\/li>\n\n\n\n<li>Acceptable <strong>debt-to-income ratio<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>For Businesses \/ Commercial Entities<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Business vintage (typically 2\u20133 years).<\/li>\n\n\n\n<li>Audited financial statements.<\/li>\n\n\n\n<li>Positive or improving cash flows.<\/li>\n\n\n\n<li>Land or rooftop lease\/ownership documents.<\/li>\n<\/ul>\n\n\n\n<p><strong>Tip:<\/strong> A stronger credit profile directly improves interest rates and loan tenure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Government Subsidies and Schemes (Crucial Section)<\/strong> \u2600\ufe0f<\/h3>\n\n\n\n<p>Before calculating your loan amount, <strong>always factor in government subsidies<\/strong>. Your loan is usually required only for the <strong>net cost after subsidy<\/strong>.<\/p>\n\n\n\n<p><strong>National Rooftop Solar Scheme (Residential)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Central subsidy for residential rooftop solar.<\/li>\n\n\n\n<li>Available only through <strong>MNRE-empanelled vendors<\/strong>.<\/li>\n\n\n\n<li>Subsidy is credited after installation and inspection.<\/li>\n\n\n\n<li>Reduces upfront cost significantly, improving the ROI of the <strong>Solar Power Plant<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>PM-KUSUM Yojana Loan<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Designed for <strong>farmers and rural entrepreneurs<\/strong>.<\/li>\n\n\n\n<li>Supports ground-mounted and solar pump projects.<\/li>\n\n\n\n<li>A combination of <strong>subsidy + bank loan + beneficiary contribution<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>Excellent option for those seeking <strong>PM KUSUM yojana loan<\/strong> support.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-x-large-font-size\"><strong>Step-by-Step Process to Get a Solar Power Plant Loan<\/strong><\/h2>\n\n\n\n<p><strong>Site Assessment &amp; Feasibility Study<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Roof strength, shadow analysis, and land suitability.<\/li>\n\n\n\n<li>Expected generation and savings estimation.<\/li>\n<\/ul>\n\n\n\n<p><strong>2. Choosing an EPC Contractor (Installer)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Select an experienced, bank-approved EPC.<\/li>\n\n\n\n<li>Proper design and credible quotations improve loan approval chances.<\/li>\n<\/ul>\n\n\n\n<p><strong>3. Preparing the Detailed Project Report (DPR)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Critical for commercial and large projects<\/strong>.<\/li>\n\n\n\n<li>Includes:\n<ul class=\"wp-block-list\">\n<li>Plant capacity &amp; technology<\/li>\n\n\n\n<li>CAPEX &amp; OPEX<\/li>\n\n\n\n<li>Generation estimates<\/li>\n\n\n\n<li>Cash flow &amp; payback period<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>A strong DPR is the backbone of <strong>solar power plant project finance in India<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>4. Applying for Subsidies (If Applicable)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Residential: Through the MNRE portal\/vendor.<\/li>\n\n\n\n<li>PM-KUSUM: Through state nodal agencies.<\/li>\n<\/ul>\n\n\n\n<p><strong>5. Approaching Lenders &amp; Submitting Documents<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Compare public banks, private banks, and NBFCs.<\/li>\n\n\n\n<li>Submit financial, technical, and KYC documents.<\/li>\n<\/ul>\n\n\n\n<p><strong>6. Loan Sanction &amp; Disbursement<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sanction letter issued after appraisal.<\/li>\n<\/ul>\n\n\n\n<p>Funds are usually disbursed directly to the EPC vendor in stages.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\">Documents Required Checklist for a loan for a Solar Power Plant<\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-background has-fixed-layout\" style=\"background-color:#0792e336\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\"><strong>Category<\/strong><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Documents<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>KYC Documents<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">Aadhaar, PAN, address proof, photographs<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Financial Documents<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">ITR (2\u20133 years), bank statements (6\u201312 months), balance sheet (for businesses)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Project-Related Documents<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">EPC quotation, DPR, land\/roof ownership proof, PPA or net-metering approval<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Having this <strong>documents required for solar loan<\/strong> checklist ready can cut approval time significantly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Top Lenders for Solar Financing in India<\/strong><\/h2>\n\n\n\n<p>Instead of focusing on one lender, explore categories:<\/p>\n\n\n\n<p><strong>Public Sector Banks<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SBI Solar Loan Scheme<\/li>\n\n\n\n<li>PNB, Bank of Baroda<\/li>\n\n\n\n<li>Competitive rates, longer tenures<\/li>\n<\/ul>\n\n\n\n<p><strong>Private Banks<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>HDFC Bank<\/li>\n\n\n\n<li>ICICI Bank<\/li>\n\n\n\n<li>Faster processing, flexible structures<\/li>\n<\/ul>\n\n\n\n<p><strong>NBFCs &amp; Green Energy Specialists<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>IREDA loan for solar project<\/strong><\/li>\n\n\n\n<li>Tata Capital<\/li>\n\n\n\n<li>Specialized understanding of renewable projects<\/li>\n<\/ul>\n\n\n\n<p><strong>Pro tip:<\/strong> NBFCs are often more flexible for commercial solar financing. Also, you can get any type of loan from Credveda, one of the best <strong><a href=\"https:\/\/www.credveda.com\" target=\"_blank\" rel=\"noreferrer noopener\">Financial Solutions<\/a><\/strong> in India, which offers low interest.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h3>\n\n\n\n<p>Understanding <strong><a href=\"https:\/\/credveda.com\/blog\/how-to-get-loan-for-solar-power-plant\/\">how to get loan for solar power plant<\/a><\/strong> in India is about preparation\u2014not complexity. With the right feasibility study, a solid DPR, and proper use of subsidies, solar loans become highly accessible.<\/p>\n\n\n\n<p>The long-term <strong>ROI of a solar power plant<\/strong>\u2014through savings, stable energy costs, and environmental benefits\u2014far outweighs the initial financing effort.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Frequently Asked Questions on Solar Loans<\/strong><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1767184457948\"><strong class=\"schema-faq-question\">Q: <strong>What is the current interest rate for a solar loan in India?<\/strong><\/strong> <p class=\"schema-faq-answer\"><strong>A<\/strong>: Interest rates typically range from <strong>8.5% to 12%<\/strong>, depending on borrower profile, lender type, and project size.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1767184491600\"><strong class=\"schema-faq-question\">Q: <strong>Can I get a 100% loan for a solar power plant?<\/strong><\/strong> <p class=\"schema-faq-answer\"><strong>A<\/strong>: Usually no. Most lenders finance 70%\u201390% of the <strong>project cost<\/strong>. Subsidies can reduce your equity requirement.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1767184536092\"><strong class=\"schema-faq-question\"><strong>Q: Is collateral required for a rooftop solar loan?<\/strong><\/strong> <p class=\"schema-faq-answer\"><strong>A<\/strong>: For small residential systems, <strong>collateral-free loans<\/strong> are common. Larger commercial projects may require collateral or guarantees.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1767184558123\"><strong class=\"schema-faq-question\">Q: <strong>What is the typical tenure of a solar loan?<\/strong><\/strong> <p class=\"schema-faq-answer\"><strong>A<\/strong>: Tenure ranges from <strong>5 to 15 years<\/strong>, aligned with the cash flow and life of the solar plant.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Electricity costs in India continue to rise for homes, businesses, and farms. Solar power offers a smart solution: lower bills, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":96,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-86","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Get a Loan for a Solar Power Plant in India<\/title>\n<meta name=\"description\" content=\"Know how to get loan for solar power plant in India\u2014eligibility, documents, subsidies, interest rates, and top lenders in one complete guide.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/credveda.com\/blog\/how-to-get-loan-for-solar-power-plant\/\" \/>\n<meta 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