Cheaper Loans Could Take Solar Power to More Rooftops in India
By Tirthankar Mandal
India’s solar capacity addition target of 100 gigawatts (GW) is expected to face serious challenges if the current sluggish growth in rooftop solar is not addressed. Of the overall target, 40 GW is proposed to come from the rooftop solar segment. However, the capacity as on date remains at 4 GW. To meet the 2022 target, there must be capacity addition of 9 GW every year starting now.
This is a tall ask for an industry plagued by limited consumer awareness and challenges with intra-government coordination, institutional priorities, and cumbersome processes. In addition, the absence of customised financing options is a major stumbling block in mainstreaming rooftop solar in India.
Photo courtesy of Marufish.