India has set an ambitious target of 100 GW installed capacity of solar by 2022, of which 40 GW is projected to come from Grid-connected Rooftop Solar systems. With the twin goals of creating an enabling ecosystem for solar rooftops and addressing the financial challenges that accompany it, the World Bank program on Grid Connected Solar Rooftop was launched in 2016. The World Bank’s concessional and long term financing of USD 625 Mn to State Bank of India (SBI) acts as a significant catalyst for the growth of the Rooftop Solar. SBI will finance installation of at least 600 MW of Grid Connected Rooftop Solar Photovoltaic (GRPV) across India which will provide clean renewable energy and reduce greenhouse gas emissions by displacing thermal generation. Besides a rooftop solar long term financing program, SUPRABHA was also initiated which aims at creating enabling ecosystem at state level for sustaining the rooftop solar sector expansion post the WB-SBI program.
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