The future of India’s green economy can be shaped not just by innovation but by inclusion and finance makes sustainable choices affordable while festive schemes make them timely and accessible. Together they can transform India’s cultural calendar into an engine for economic security, energy independence, and climate resilience, writes Sumeru Shah, Business Head – EV 2-Wheeler, Ecofy.
India’s vibrant festive calendar is much more than a cultural marker. In fact, it’s an economic powerhouse that sets the tone for comprehensive wealth-generation. From Ganesh Chaturthi to Diwali, the 52-day festive period drives nearly half of the country’s annual consumption in key sectors. But what if this surge in spending could also accelerate India’s climate goals? What if the auspicious timing that drives gold purchases and vehicle sales could equally propel the adoption of electric vehicles, solar rooftops, and energy-efficient homes?
The real question that arises is how can we ensure that sustainable choices become the default festive purchase, rather than an afterthought; that’s where green financing and targeted festive schemes step in as powerful enablers which have the ability to close the gaps between aspiration and adoption.
Festivals: The smart timing for green choices
Indian households are deeply influenced by auspicious timing. Empirical data reveals that 40–50 percent of annual vehicle sales occur during the festive window spanning Ganesh Chaturthi, Onam, Navratri, and Diwali. This concentration of consumer activity isn’t random as it reflects the deep-seated presence of cultural belief systems where major purchases align with prosperity and austere new beginnings.
This presents a strategic opportunity. If nearly half of all vehicle purchases happen during festivals, then festivals themselves become the ideal moment to mainstream sustainable alternatives. The festive mindset is already primed for significant investment decisions. The challenge is to channel that readiness towards climate-positive choices that offer both cultural alignment and long-term economic benefit.
EVs: The new festive aspiration
Much like gold or traditional two-wheelers have symbolized festive prosperity, Electric Vehicles are emerging as the new aspirational purchase. This shift is primarily backed by compelling economics. With state subsidies and innovative financing structures, EVs have transitioned from premium indulgence to practical long-term investment.
In FY24 alone, EV sales in India crossed 1.5 million units, marking a significant inflection point. Once installed, an EV offers fuel savings that compound over years, insulating households from volatile petrol and diesel prices. The festive season amplifies this appeal through limited-period offers, zero down payment schemes, and bundled insurance packages that make the upfront decision easier.
But despite growing awareness, the initial cost remains a roadblock for many prospective adopters. This is where targeted festive financing becomes crucial. Not merely as a sales tactic, but as a veritable bridge between intention and action.
Solar rooftops and the festive renovation wave
Festivals are synonymous with cleaning, decorating, and upgrading homes. Increasingly, these upgrades include solar rooftops, energy-efficient appliances, and smart home automation systems. The festive period is proving to be an inflection point for residential rooftop solar, which the government has targeted to reach 40 GW capacity by 2026.
A rooftop solar installation can provide free electricity for over 25 years, saving households from rising power tariffs while supporting India’s net-zero targets. The average cost of installing a solar panel at home can span between INR 1.5 lakh to INR 5 lakh, depending on size and specifications. Though solar panel prices have declined significantly over the years, the upfront investment still proves expensive for many families.
The alignment of cultural practices with sustainability is making the transition smoother for households. When families already plan to invest in home improvement during Diwali or Dussehra, adding solar to that list becomes a natural extension rather than a separate decision. The festive mindset of renewal and prosperity dovetails perfectly with the idea of energy independence and long-term savings.
Finance: Facilitating affordable festive green transitions
The primary cause why people hesitate to adopt sustainable solutions during festivals – despite high purchase intent – is the capital investment they demand. But with the help of green financing one can make this process cheaper and easily doable.
Green financing, unlike traditional loans, requires minimal or zero collateral. It offers quick digital approval and disbursal, spreads payments over manageable EMIs, provides structured repayment paths and can also be paired with government subsidies and incentives. This is especially powerful during the festive season when consumer sentiment is already tilted towards major purchases. Just like OEMs, dealer networks, and sales teams prepare for festive demand, financiers also galvanize their machinery to support green choices.
These are strategic interventions timed to cultural moments when households are already making significant financial decisions. Even time-bound festive offers create an urgency and when combined with financing, this cuts the payback period and makes sustainable installations a smarter and a more economical choice for anyone.
Policy: Creating the enabling festive ecosystem
India’s climate goals require strong policy support and festive schemes are proving to be the best bet. Schemes like PM Surya Ghar: Muft Bijli Yojana aim to install rooftop solar in 1 crore homes and as per the Ministry of New and Renewable Energy, providing up to 300 units of free electricity monthly.
Furthermore, for Electric Vehicles, state-level subsidies in Maharashtra, Delhi, Gujarat, and other states further sweeten the deal, especially during festive periods when these are often bundled with manufacturer discounts.
These policies also drive last-mile awareness, simplify regulations and help enable vendor training which is crucial to reach the underserved communities. When government subsidy deadlines align with festive buying windows, they create a powerful convergence that accelerates adoption.
The changing consumer mindset
Indian households are increasingly blending tradition with sustainability. The festive season is not only about celebration and prosperity but also about making choices that safeguard the future. Consumers now see EVs, solar rooftops, and energy-efficient appliances as symbols of both progress and responsibility.
Consumer awareness is key when it comes to driving sustainable adoption during festivals. Otherwise, even targeted financial products and generous subsidies offered by the government will fall short. Green alternatives are not as expensive as popularly construed. Creating proper awareness is crucial for the masses to understand how this can prove beneficial in long-term savings and how easily one can start today.
Much like the government’s work in areas like LPG or digital banking, awareness campaigns and ground-level agents can play a huge role in pushing sustainable choices to the masses during peak festive periods. Even finance providers have a role to play as they must step in through local partnerships, community demos, and multilingual content that explains the ease of going green.
Green loans becoming mainstream
Affordable and innovative green financing options are ensuring that eco-friendly choices are no longer a luxury but a practical festive buy. With rising awareness, competitive rates, and targeted festive schemes, green loans are quickly becoming mainstream in India’s financial landscape.
MSMEs that opt for solar can reduce their operational costs and improve competitiveness. Farmers using solar-powered pumps can conserve water and cut fuel costs. Urban households switching to EVs can insulate themselves from fuel price volatility. Even schools, hospitals, and local enterprises can gain reliable power. But this is possible only with the help of finance and the right policy push timed to festive sentiment.
Unlocking a green economy through festive momentum
If we talk about a country’s growth, then sustainable consumption isn’t just about environmental responsibility; it’s a key pillar of a green economy. And as adoption grows during festive periods, so do jobs in installation, manufacturing, servicing, and financing. The festive season becomes not just a moment of consumption, but a moment of economic transformation.
Conclusion
The future of India’s green economy can be shaped not just by innovation but by inclusion and finance makes sustainable choices affordable while festive schemes make them timely and accessible. Together they can transform India’s cultural calendar into an engine for economic security, energy independence, and climate resilience.
As the nation moves towards its net-zero targets, it must ensure that every citizen has access to the necessary tools for participating in the clean energy transition especially during moments when they’re already primed to make significant purchase decisions. This isn’t merely an environmental imperative but an economic one. The festive season offers a recurring annual opportunity to accelerate this transition, one auspicious purchase at a time.