Jaipur is a city in the desert state of Rajasthan and is abundant with sunlight. Mr Toshniwal*, a city resident, is excited about adopting rooftop solar photovoltaic (PV) for his house and potentially save on his electricity bills.
He even persuaded other members from his housing society to consider installing solar PVs for their homes. But as soon as they approached the bank for a loan, they faced disappointment and returned empty handed.
The cost of solar PV installation was only a few lakhs but the bank required them to pledge their homes, which worth in crores, against the loan. Despite India’s capacity to potentially harness rooftop solar and mandate its banks to promote the same, several problems remain.
India’s ambitious 175 gigawatt (GW) of renewable energy target includes 100 GW of solar by 2022. Of this, 40 GW is to come from rooftop installations around the country. Read more
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