The state is looking to promote use of solar power to save on power expenses.
Odisha is seriously eyeing the highly potential solar power segment in the region. Recently, the state had announced that it will have its Solar Policy in place by end of March and moving forward with the similar intent, the state is now reportedly offering solar home systems with easy loans and finance options.
According to a TOI report, the Odisha Renewable Energy Development Agency (OREDA) will soon join hands with the banking sector and other finance institutions to offer loans for installation of solar heating system in household.
“Due to lack of awareness and large initial investment, not many people are coming forward to use solar energy. Therefore, we will rope in financial institutes, micro-finance institutes and other self help groups (SHGs) to provide soft loans against reasonable interest to willing customers,” R K Choudhury, deputy director of OREDA’s project division was quoted saying in the report.
The report further added that, as per OREDA sources solar plants have already been installed in over 1,700 villages of the state. “During the day, the plant lights the house and during night, the converter works by drawing power from the batteries,” as per the source.
Under the solar policy, Cuttack and Bhubaneswar will be the prominent cities.
