Sun, Fuel Your Business with
Shriram Solar Panel Loan
Shriram Solar Panel Finance – Solar Installation Loans for Businesses
Shriram Solar Panel Finance is a term loan offering solar panels finance for commercial, industrial, and agricultural businesses funding the purchase and installation of solar panel systems. The loan is repaid through fixed monthly instalments over a tenure ranging from 6 to 60 months, with interest rates starting from 14%* p.a. Eligibility is assessed case by case, with no fixed income, turnover, business vintage, or credit score floor, and collateral is not compulsory.
Key Features of Solar Panel Finance
The following features apply to Shriram Solar Panel Finance. Specific terms and conditions are confirmed at the time of the loan sanction.
No upper limit.
6 months to 60 months.
Starting from 14%* p.a.
Up to 5% of the loan amount.
Not compulsory
KYC documentation including identity proof, address proof, and income proof. Digital KYC is accepted.
Salaried individuals, self-employed applicants, farmers, and business owners may apply.
Benefits of Shriram Solar Panel Finance for Businesses
Shriram Solar Panel Finance is structured to support commercial, industrial, and agricultural businesses transitioning to solar power without upfront capital outlay.
No upper limit on loan amount
The full cost of solar panel installation may be financed under Shriram Solar Panel Finance, including modules, inverters, mounting structures, and installation costs.
Flexible repayment tenure
Customers may select a repayment period between 6 and 60 months based on cash flow and energy savings projections.
No fixed credit score, income, or business vintage floor
Loan eligibility is determined on a case-by-case basis, with no hard stop on credit score, minimum income, annual turnover, or years in business.
Collateral not compulsory
Solar panels finance under Shriram Solar Panel Finance is offered without compulsory collateral, with loan terms assessed on the applicant's profile.
Digital application process
Applicants may complete the application online without visiting a branch. Digital KYC is accepted.
Solar Panel Finance Eligibility Criteria
Shriram Solar Panel Finance is available to commercial, industrial, and agricultural businesses and to individual applicants financing solar panel installation. Eligibility is assessed based on the nature of the business or employment, age of the applicant or authorised signatory, and the documentation submitted.
Commercial, industrial, and agricultural businesses are eligible. Salaried individuals, self-employed applicants, farmers, and business owners may apply.
21 to 70 years* at loan maturity.
No minimum income or turnover criteria. Eligibility is assessed case by case.
No minimum business vintage requirement for self-employed applicants.
No fixed credit score floor. Loan eligibility is determined on a case-by-case basis.
Not compulsory under Shriram Solar Panel Finance.
Documents Required for Solar Panel Finance
A summary of the required documents for a Shriram Solar Panel Finance application is listed below. Requirements may vary based on applicant type, business category, and loan amount.
| Document Type | Accepted Documents |
|---|---|
| Identity Proof | Aadhaar Card, Passport, or Driving License |
| Address Proof | Aadhaar Card, Passport, Driving License, Gas Connection Card, Water Bill, or Electricity Bill |
| Income Proof | Last 6 months' bank statement, Income Tax Returns (ITR), audited company accounts of the last financial year, or cash flow statement |
| Proof of Business Ownership | Residence and factory ownership documents |
| Electricity Bill | Last 6 months' electricity bill for the premises where solar panels will be installed |
Solar Panel Finance Interest Rates and Charges
The interest rate for solar panels finance under Shriram Solar Panel Finance starts at 14%* p.a. The applicable rate for a specific application is determined based on the applicant's profile and loan parameters and is confirmed at the time of loan sanction. The schedule of applicable fees and charges is summarised below.
| Types of Fees | Applicable Charges* |
|---|---|
| Interest Rate | Starting from 14%* p.a. |
| Processing Charges | Up to 5% of the loan amount |
| Foreclosure Charges | Up to 4% on the principal outstanding |
*Fees and charges vary by state. For the complete schedule of applicable fees and charges under Shriram Solar Panel Finance, refer to the Interest Rate Policy
How to Apply for Solar Panel Finance Online
Applicants may apply for Shriram Solar Panel Finance online by completing the following steps:
- Step 01Register using your mobile number
- Step 02Verify and proceed using OTP
- Step 03Enter personal details
- Step 04Submit the application for review
FAQs
What is Solar Panel Finance?
Shriram Solar Panel Finance is a term loan offering solar panels finance for commercial, industrial, and agricultural businesses to fund the purchase and installation of solar panel systems. Repayment is structured through fixed monthly instalments over a tenure of 6 to 60 months, with interest rates starting from 14%* p.a.
What can the solar loan amount be used for?
The loan amount under Shriram Solar Panel Finance may be used to cover the cost of purchasing solar panels and financing their installation. Eligible systems include rooftop and ground-mounted solar panel installations for commercial, industrial, and agricultural businesses, including modules, inverters, mounting structures, and installation labour.
How does solar panel financing help reduce electricity costs?
Installing solar panels through Shriram Solar Panel Finance reduces a business's dependence on grid electricity. Over the operational life of the system, this lowers electricity expenses as the business generates a portion of its own power, often offset against grid consumption through net metering. The extent of savings depends on the size of the installation, energy usage patterns, and local electricity tariffs.
What types of solar panel systems are eligible for financing under Shriram Solar Panel Finance?
Eligible systems for Shriram Solar Panel Finance include rooftop and ground-mounted solar panel installations for commercial, industrial, and agricultural use. Applicants should confirm the system type and capacity with the solar vendor before applying for rooftop solar loan options or ground-mounted system finance.
Is Solar Panel Finance a cost-effective option in the long run?
The long-term cost-effectiveness of solar panel finance depends on the loan amount, tenure, applicable interest rate, and the business's energy consumption. Businesses with consistent electricity usage may offset repayment costs through energy savings over the loan tenure. The Shriram Solar Panel Finance EMI calculator can be used to model monthly repayments before applying.
Are there government subsidies available for solar panel loans?
Government subsidies for solar panel installations may be available to eligible applicants under central schemes such as PM Surya Ghar Muft Bijli Yojana and PM KUSUM. If a subsidy applies, it reduces the net installation cost and the loan amount required under Shriram Solar Panel Finance. Applicants should confirm subsidy eligibility and applicable scheme terms with the relevant authority before applying for solar panel finance.
Is collateral required for Shriram Solar Panel Finance?
No. Collateral is not compulsory for Shriram Solar Panel Finance. Loan eligibility and applicable terms are assessed based on the applicant's profile, business category, and loan parameters.
Low Processing Charges & Quick Loan Disbursals on Solar Panel Finance
