The World Bank has approved an additional $165 million financing to support 450 MW of rooftop solar deployment in the residential sector of India and make solar energy more affordable.
These solar photovoltaic (PV) installations will provide clean, renewable energy, and reduce greenhouse gas (GHG) emissions by displacing generation based on fossil fuels. The project is projected to reduce GHG emissions by 13.9 million tonnes. The development bank has previously given India’s grid-connected rooftop solar program, which primarily focuses on commercial and industrial rooftop PV systems, $648 million. This additional round of funding will expand the programme to cover the residential sector, and support the government of India’s target of 40 GW of rooftop solar installations. The project will also let India’s power discoms interact with residential customers directly and play a significant part in the growth of grid-connected solar. This will involve classifying residential customer groups, choosing the optimal sites for solar rooftop installations and battery energy storage systems, and adopting appropriatebusiness practices that will benefit the utilities.