Chat with us, powered by LiveChatADB Approves $240.5 Million to Boost Rooftop Solar Adoption in India - FASI
FASI - Funding Aid Strategies Investments

ADB Approves $240.5 Million to Boost Rooftop Solar Adoption in India

|In Evidence
18 July 2024

Photo by Raze Solar on UnsplashThe Asian Development Bank (ADB) has approved a substantial $240.5 million financing package to accelerate the deployment of rooftop solar systems across India. This initiative will support the Indian government's ambitious renewable energy targets and is in line with the Prime Minister's Surya Ghar programme, which aims to promote the widespread adoption of rooftop solar across the country.

India has committed to achieving 50% of its cumulative electric power installed capacity from non-fossil fuel energy sources by 2030, in line with its global commitments to reduce carbon emissions. Rooftop solar (RTS) systems are pivotal in this transition, offering a decentralized, sustainable, and cost-effective solution to meet the country's burgeoning electricity demand.

The Indian government initiated the Jawaharlal Nehru National Solar Mission in 2010 to foster the growth of solar energy, including RTS. This mission was revised in 2015, setting a target of 100 GW of solar capacity by 2022, with 40 GW specifically earmarked for RTS. However, as of March 2024, India had only achieved around 11.87 GW of RTS capacity, unders

;