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 11.08 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.
Rooftop-related schemes in India
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