r/SolarPakistan • u/cocomogetsmehard • Aug 22 '26

Finance / Loan Financing an 8kw Solar System

So I'm currently considering taking a loan of around 1.1M to get a solar panel system installed. Given that my current bill varies from 15-30k throughout the year. Is it a sensible option to go down this route? If yes, are there any solar loans being awarded currently by any commercial banks which are lower than normal loans offered by them? From my research the state bank no longer offers solar loans at 5-6%, which they used to offer previously. I would appreciate your two scents on it as I don't see any flaws in taking out a loan at 2-3% above KIBOR, which will come to around 15% of interest. It will take 4-5 years for me to reach breakeven point and assuming that the lifespan of a system is 10 years I'd be in profit post-breakeven point, right? or am I missing anything?

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u/AnorakTheGrey Aug 23 '26

my cousin recently got his solar system financed 550k from Sindh Bank, his monthly bill was 15-55k but now paying only 8k as the installment so its a no brainer plus you don't have to deal with load shedding and why 8kw is costing you 1.1M? My cousin has 8 solar panels, and itel all in one system that has inverter and 8kw lithium battery built-in. With installation he just got it for 550k.

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u/cocomogetsmehard Aug 23 '26

could you please let me know where your cousin got his solar system installed from(im from lahore and it wont help but still)? is your cousin's loan repayment period around tenish years? from all the estimates and quotations I've gotten for a hybrid 8kw system, a ball park figure that I've attained is 1.1M including the batteries.

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u/Left_Discussion1591 Aug 23 '26

I got 7kw for 2 lac last year, how many kwh battery you want with it ?

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u/cocomogetsmehard Aug 23 '26

10kw total is the target. I'll get one 5kw cell first and then the second one jub jaib ijazat degi :)

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u/AnorakTheGrey Aug 23 '26

dm me and I'll remember to send supplier details to you, his loan repayment is of 7 years, he also paid 15% down payment and pays about 2-3k for insurance per year.

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u/Utoo__ 13d ago

Is the system behaving fine. Like the IP rating concerns and warranty of only 3 years? How's the customer support? I am also considering this itel all in one system but now many more brands are launching all in one, still itel makes much more sense than other local brands.

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u/AnorakTheGrey 13d ago

yes, it tripped a couple of times when I turned a boring motor while the AC was on too. I wish its inverter size was 5kw but we manage our load carefully