Rooftop Solar Systems in India

Recently, Asian Development Bank (ADB) approves support for Rooftop Solar Systems in India.

• The financing will support Multi-tranche Financing Facility (MFF) Solar Rooftop Investment Programme.
• ADB will provide funds from its Clean Technology Fund and from Ordinary capital resources.
• Loans will be made available through the State Bank of India and the National Bank for Agriculture and Rural Development (NABARD).

CURRENT STATUS OF ROOFTOP SOLAR POWER IN INDIA

• Rooftop solar installed capacity in India is around 08 GW as of December 2023, of which only 2.7 GW is in the residential sector.
• Gujarat tops the list with 2.8 GW, followed by Maharashtra by 1.7 GW.
• Potential: Over 25 crore households across India have potential to deploy 637 GW on rooftops (as per Council on Energy, Environment and Water (CEEW)).

SIGNIFICANCE OF ROOFTOP SOLAR SCHEMES

• Reducing technical and operational burden: As electricity is generated close to where it is consumed, reducing the need for long-distance power supply and resultant system losses.
• Achieve Panchamrit targets: Help to achieve the target of meeting 50% of its energy requirements from renewable energy by 2030.
• Energy Security: IEA’s World Energy Outlook predicts India is going to witness the largest energy demand growth over the next 30 years.