Water heaters
Despite several schemes, both centrally and state sponsored, to promote solar water heaters sales have been low. A major reason has been a lack of trust on the quality of device supplied by the government appointed manufacturers. Under a central subsidy scheme of the MNRE a soft loan is made available at the rate of two per cent for domestic users, three per cent for institutional users and five per cent for commercial users who also avail of accelerated depreciation under the income tax rules. However, in few states including Himachal Pradesh, north-eastern states and Jammu and Kashmir an interest-free loan is given to domestic users. The scheme is implemented by Indian Renewable Energy Development Agency Limited (IREDA) through a select few nationalized banks. A person availing of this scheme needs to collect an invoice for the kind of solar water heater he is buying from one of the MNRE authorized dealers. He then has to approach a bank, which in turn issues a cheque in the dealer
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