Solar EMI calculator
Planning to finance your rooftop system? Choose the size and state to prefill the cost from UVR’s rate list, set a down payment, and enter the interest rate and tenure your lender has offered. You’ll see the EMI, total interest and how it compares with your expected monthly savings.
How it works
- System cost is prefilled from UVR’s rate list for your state and size; you can type your own amount instead.
- Choose whether to finance the full cost or the cost after subsidy, since the subsidy is credited only after commissioning.
- Loan amount = amount to finance − down payment.
- EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of months.
- EMI is compared with estimated monthly savings of kW × 126 units × ₹8.5.
Assumptions
- Interest rate and tenure are entered by you. UVR does not quote or promise any bank or loan scheme rate; check terms, fees and eligibility with your lender.
- Installed cost from UVR's current on-grid rate list: Gujarat ₹57,000/kW below 3 kW and ₹54,000/kW from 3 kW; all other states ₹69,100/kW.
- PM Surya Ghar central subsidy for homes: ₹30,000/kW for the first 2 kW plus ₹18,000 for the third kW, capped at ₹78,000.
- State top-up of ₹30,000 for homes in Assam, Uttarakhand, Uttar Pradesh and Delhi (UVR state + central rate list). Gujarat and other states: ₹0 extra.
- Monthly savings: kW × 126 units × ₹8.5, assuming all solar units replace units you would buy.
- Processing fees, insurance and prepayment charges are not included.
- Final size, cost and eligibility are confirmed only after a free UVR site survey and DISCOM approval.
Frequently asked questions
What interest rate should I enter?
Enter the rate your bank or NBFC has actually quoted you. Solar loan rates depend on the lender, your credit profile, the loan amount and tenure, and they change over time, so this calculator does not assume one. The PM Surya Ghar national portal also lists loan products from participating banks that you can compare.
Should I finance the cost before or after subsidy?
The central subsidy is credited to your bank account after the system is commissioned, so many buyers fund the full cost upfront and use the subsidy to prepay part of the loan later. Switch between full system cost and cost after subsidy to see both scenarios, then confirm the structure with your lender.
How is the EMI calculated?
We use the standard reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Total interest is the sum of all EMIs minus the loan amount.
Can solar savings cover my EMI?
Often they cover a large share, but it depends on the loan amount, rate and tenure. We estimate monthly savings as system size × 126 units × ₹8.5 per unit and compare that with the EMI. If savings exceed the EMI, the system is cash-positive from the first month; otherwise the gap is your net monthly outflow.