Bankers Reluctant In Providing Loans Under Surya Ghar Solar Scheme

Kakinada: Bankers are not keen on providing loans under the PM Surya Garh scheme for installing solar panels at the houses of beneficiaries, particularly in certain districts of Andhra Pradesh.Many beneficiaries in villages want to install the solar panels under the scheme. But due to financial hurdles, they are unable to make the mandatory down payment. In the towns, many apartments are not coming forward to install solar panels, as there is no unanimity among the residents.Difficulties such as these are undermining the objectives and targets of Prime Minister Narendra Modi’s much-talked-about scheme.The case is different in Godavari districts, where collectors are promoting the scheme actively. But their efforts are not bearing much fruit.For example, Kakinada district collector Sagili Shan Mohan has lashed out at the bankers for their apathy in providing loans to beneficiaries under the solar scheme.However, bankers have the experience of most solar loans not being fully repaid. They point out that there are many who are paying a minimum electricity bill of ₹800 per month. These people can opt for the loans and easily clear the loans taken. But they do not do so.East Godavari district superintendent engineer K. Tilak Kumar told Deccan Chronicle that bankers need not have doubts about extending loans under PM Surya Garh, as solar panels continue working for nearly 20–25 years. Consumers can also supply surplus power to the grid, whose amount immediately gets credited into their respective accounts.Incidentally. Eluru district stands first in generating solar power under Surya Garh scheme with 5,640 connections totalling to 18.271 MW power generation. Kakinada is in second position with 5,648 solar connections and 17.622 MW power. East Godavari figures are 5,059 and 16.311 MW, and West Godavari 4,685 and 15.048 MW. Kakinada district superintendent engineer G. Prasad said that they are convincing bank officials to extend loans to beneficiaries.In Konaseema district, the population of SCs, STs and BCs is higher. SCs and STs can apply for the scheme even without making any down payment. Konaseema district Transco superintendent engineer B. Rajeswari said they have received 2,875 applications for solar connections involving 9.023 MW of power. Eluru superintendent engineer Solomon Raj said efforts are being made to achieve their district’s targets.



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