Frequently Asked Questions (FAQS)
How solar system works?
Solar system collects, converts and distributes the solar energy in form of electricity for your home as a permanent solution.
What are the benefits of this system?
Solar system reduces your electricity bill and is easy to maintain.
What is the expected lifespan of the solar panels?
The expected life of a good quality solar panel is in excess of 20 years.
How do I get power at night?
In hybrid and off-grid systems, batteries are charged using power during day time and the energy stored in batteries is used during night time.
What appliances can I run?
You can run all electrical appliances e.g. fan, TV, lights, refrigerator, air conditioner etc. depending on the type of system you have.
How does the weather effect solar production?
Solar production is highest in clear sunshine conditions. In cloudy, overcast, and rainy conditions, solar production is lower.
How much roof space is needed for a solar electric system?
Depending on which solar module is used, each DC kilowatt of PV will require roughly 85 square feet of roof space. So, a 4kW solar system will require roughly 340 square feet.
What kind of maintenance does a solar system require?
Washing the solar array with water a few times a year would be good but regular dust cleaning is sufficient.
How cost effective is the solar solution?
Solar is a onetime investment. An on-grid system, consisting of solar panels and inverters may work for 20 years. This type of system has a payback period of 6 years. You get free power beyond this period. A battery backup system needs battery replacement in 3 to 5 years and has longer payback period.
Can I convert my UPS system into a solar system?
Yes. You can upgrade your UPS by using solar panel and charge controller.
How BOP will facilitate the individuals with solar energy system?
We are giving option of financing solar system to make it affordable for individuals.
What is the financing limit?
The financing limit is up to Rs. 500,000 without any security, but can be enhanced up to Rs.5 million with security. The security can be in various forms including mortgage on property etc.
What is the maximum tenure?
Tenure is up to 3 years for clean loan and upto 7 years for secured loan.
What is debt burden ratio?
Your monthly installment of all loans should not be exceed 40% of your disposable income.
What will I have to pay up-front?
Minimum 20% Equity, 1st year life insurance & processing charges
How will the loan be repaid?
The repayment of loan shall be through monthly installments
Can this system be purchased from any vendor?
You can purchase this system through any authorized vendor of BOP
How can I avail financing facility?
First select the standard solar system & contact our CFCs with required documents. Our dedicated team will assist you in processing loan application.