If you have been stopping yourself from switching to solar power solutions due to the initial capital involved then this news will bring a smile to you. Harayana based startup Loom Solar has partnered with Bengaluru-based digital lending company ZestMoney offering low-cost EMIs options to consumers who are willing to buy solar products from the online or offline platform of Loom Solar.
For decades we have been taught about the limited natural resources including fossil fuels and coal. The recent coal crisis is an indication that today is the right time to seriously think about switching to solar power. It is astonishing to learn that India still is dependent on thermal power plants for more than 70% of its energy requirements. Imagine what happens when the coal supply is deterred?
The average cost of installing 1 kilowatt of Solar System with batteries will cost approximately 1 Lakh INR. This could be a hefty amount for most Indian households to pay upfront. And when anything and everything is available on low-cost EMIs, then why not the much-required solar power system.
Amod Anand, Co-Founder, and Director, Loom Solar says, “EMI / loan option is available across segments like homes, cars, consumer durables, phones, etc. that are basis certain well-oiled process. When it comes to EMI/ loan for solar power plants the processes are yet to become more inclusive. EMI for rooftop solar needs constant hand-holding by an expert for the homeowner to manage the entire process. This festive season, we at Loom Solar, have chosen to step up and be available for this need of homeowners. Our team continues to work relentlessly to help our customers opting for loan / EMI option.”
Here are some of the benefits:
- Choose between 3-18 months EMI plan with up to 1.5% interest rates
- Make a 10% down payment to start the process
- Additional 1% processing fee and no pre-closure fee, etc.
Apart from the EMI options, there is a lot more for consumers in this festive season till 15 October. More details could be checked on the company’s website.