What is TNREDCO?
The Tamil Nadu Renewable Energy Development Agency (TNREDCO) is a state government body that provides subsidised financing for renewable energy projects including rooftop solar. Their solar loan scheme offers rates significantly below commercial bank rates.
TNREDCO Solar Loan Terms
| Parameter | Details |
|---|---|
| Interest Rate | 6.5% per annum |
| Maximum Loan | ₹3,00,000 (residential) |
| Tenure | Up to 5 years |
| Processing Fee | 1% of loan amount |
| Collateral | Not required below ₹1,50,000 |
Eligibility
- Tamil Nadu resident
- Property owner (not tenant)
- TANGEDCO electricity connection
- No existing TNREDCO loan default
- Annual household income below ₹10 lakhs (for subsidised rate)
How to Apply Through Heliostrom
- 1Contact Heliostrom for free site survey and system recommendation
- 2We prepare your TNREDCO loan application documents
- 3Application submitted to nearest TNREDCO office
- 4Approval within 15–21 working days
- 5Loan disbursed directly to Heliostrom upon installation
- 6You repay TNREDCO in EMIs over your chosen tenure
A 5 kW system financed through TNREDCO at 6.5% over 5 years results in an EMI of approximately ₹3,900/month — lower than the average EB bill savings of ₹5,500/month. Net cash flow positive from Day 1.
