SURYA SHAKTI SOLAR FINANCE SCHEME - ORB ENERGY PARTNERS WITH SBI
Date: 17-Sep-2024
Solar energy adoption is on the rise in India given that it is becoming even more accessible and affordable. Orb Energy, a leading solar solutions provider in India, is helping to accelerate this shift. In a recent development Orb Energy signed an agreement with State Bank of India (SBI) to become an approved vendor under the Surya Shakti Solar Finance Scheme, thus offering a range of financing options for rooftop solar installations.
So, what does this Orb Energy – SBI collaboration translate to for orb Energy’s customers? Basically, Orb Energy’s present and potential customers can take advantage of SBI’s solar loans right away!
Under the Shakti Solar Finance Scheme, commercial and industrial customers can secure a loan of up to Rs. 10 crores with a required 20% downpayment. Residential customers can receive up to Rs. 10 lakhs for their domestic solar power installation needs. And with flexible tenure options, this facility promises to make rooftop solar power more accessible for everyone.
Without doubt, one of the biggest barriers to customers adopting rooftop solar systems has always been the upfront cost. That said, solar energy offers fantastic long-term savings. Thankfully, the payback period for commercial and industrial customers is just 2-3 years, while the payback period for residential users is 3-4 years. Orb Energy’s solar panels come with a warranty of 25 years or more, so after payback, customers effectively benefit from free electricity for more than 20 years! With the right financial backing, customers can cover their upfront costs and start saving on their energy bills today!
Orb’s CEO, Damian Miller, views the partnership with SBI as a significant step forward, stating, “This agreement allows more customers to benefit from affordable solar financing and supports SBI’s Surya Shakti Solar Finance Scheme, which will drive rooftop solar adoption.”
Established in 2006, Orb Energy is a leading player in the rooftop solar market. The company has been ranked among the top 5 rooftop solar power providers by CRISIL (Bridge to India), between FY 2021 -> FY 2025 and has installed over 300 MW of rooftop solar solutions, reflecting its leadership in India’s solar industry.
With its vertically integrated approach—manufacturing, installing, servicing, and financing solar systems—Orb Energy is setting new benchmarks, and making inroads into new markets in India and overseas.
Unlock the power of solar with Orb Energy’s SBI-backed financing—low upfront costs, flexible loans, and savings in just 2-3 years! Fill out the form today and start your solar journey.