NDB Solar Vantage assists households to switch to solar energy

Many households have decided to opt for solar energy to power up their homes as it is a more cost efficient method to save fuel and energy in the long term. With this in mind, ‘NDB Solar Vantage’ has stepped up as the foremost solution that enables households to switch to solar energy and enjoy long term cost efficiencies.  

According to a joint study by the UN Development Program (UNDP) and Asian Development Bank (ADB), Sri Lanka has the potential to deploy 16 GW of solar power and cover its power demand entirely with renewable energy by 2050. However, the initial cost in installation of solar panels can be costly. 

‘NDB Solar Vantage’ is a loan facility designed to provide financial assistance in setting up solar energy systems for domestic use. 

The ‘NDB Solar Vantage’ loan scheme will be offered at a special rate of interest with a flexible repayment tenure that can go up to 7 years. Furthermore, it is a customised, structured facility for households that consume over 200 units of power or incur over Rs.15,000 per month in electricity bills, in order to ensure efficient payback on the customer’s investment. 

This scheme offers a host of added benefits, including expert advice on tailoring the loan based on the monthly usage and energy produced in order to ensure the maximum benefit to the customer, recommended domestic solar system providers that have been screened and authorised by the SLSEA, free onsite feasibility studies and advisory services from NDB’s strategic partners providing the solar units. The bank is geared to provide expert advice on tailoring the loan based on the loan value, monthly usage and the energy produced in order to ensure the maximum benefit to the clients.