ZunRoof Launches Rs 660/Month Plan for Solar Rooftop in Delhi

Home-tech startup ZunRoof has unveiled its monthly payment scheme of Rs 660 per month for the installation of new residential solar rooftops. With this plan, the firm will hope to overcome its cost disadvantage with an easy financing option.

Under the scheme, rooftop solar installers can save on their electricity bills from day one by powering their home from solar energy. Also, customers will be able to pay for a new solar rooftop over a 7-year time period.

A big challenge for the firm, of course, might be its pricing, which is at a significant premium of over 50 per cent to what is being charged by the Amplus, which recently bid at Rs 37,000 per KW for solar rooftop projects in Delhi under the IPGCL tender. A price that, after subsidy, drops to almost Rs 22,000 or setups till 3 KW.

Currently, the company has launched this scheme for residents of Delhi, and is also planning to roll out this scheme in other cities soon.

Commenting on the scheme launch, Pranesh Chaudhary, founder & CEO of Zunroof, said that “we are proud to announce the launch of our monthly payment plan for solar rooftop customers. In today’s unprecedented times, it becomes all the more important to be there for everyone who wants to go solar and thus, helping them make the payment over 84 months can be a game-changer.”

He further added that “we are putting a moratorium on upfront investments and simultaneously promoting solar adoption in India.”

The company claimed that it is the first residential solar rooftop company to launch a monthly payment plan in India.

On the eligibility, ZunRoof said, all the homeowners who have the roof rights for their house are eligible to apply for this plan. The company will charge nominal processing fees of Rs 10,000 per kW.

Also, the monthly payments will begin post-implementation of net metering, to allow homeowners to save cash from day one and pay for the solar rooftop instalment from monthly savings.

Chaudhary also said that “preservation of cash is very critical in these times and this plan would be a game-changer in helping homeowners save huge amounts in electricity bills while they work from home, without digging any hole in their pockets.”

“ZunRoof has created a robust underwriting process within their mobile App to smoothly facilitate this plan. We will soon roll out this plan in other cities,” he added.

Meanwhile, the company’s monthly payments plan for solar rooftop is a significant move that is expected to encourage Delhi residents for installing residential solar rooftops.

He also said that his company has recently received ISO 9001, ISO 14001, ISO 45001 and CE certifications and they have so far designed more than 30,000 rooftop solar systems in more than 75 cities across the country. Overall, the company has installed over 15 MW of residential rooftop solar and more than 50,000 IoT devices.

“The USICEF Program aims to drive affordable & clean energy adoption in India by supporting distributed solar power projects and we are happy to have supported Zunroof to launch this initiative. Though the longer tenor of the payment plan would help to solve the affordability problem for customers, we expect it to be capital intensive for  Zunroof. Our grants enabled Zunroof to not only develop this business plan, but also secure fundraising support. We are confident that ZunRoof will build on this success in the coming years. The USICEF Program always looks to support promising young companies that can come up with innovative solutions for distributed clean energy challenges in India,” said Dhruba Purkayastha, Director, USICEF, which provided a grant to Zunroof last year.

In March this year, after USD 1.2 million investment from Godrej family office in a pre-series A round in April last year, Gurgaon-based startup company received a follow on Series A funding of about USD 3 million in the second round of investment by the family office.