The Asian Development Bank (ADB) has approved a $240.5 million loan package to promote rooftop solar installations in India. This funding is part of the Solar Rooftop Investment Program, refocused in 2023 to prioritize residential solar rooftops. ADB’s support aligns with India’s goal to derive 50% of its electricity from non-fossil fuel sources by 2030, particularly through initiatives like the Prime Minister Surya Ghar program. According to ADB, this initiative will decentralize electricity generation, reducing strain on India’s power grids and enhancing energy self-sufficiency. The State Bank of India and National Bank for Agriculture and Rural Development will administer the financing, with ADB allocating $90.5 million from its Clean Technology Fund to SBI and $150 million to NABARD. This funding will support India’s transition to clean energy and reduce transmission losses.
ADB backs India’s solar ambitions with $240.5M fund
Rooftop solar systems are expected to decentralize electricity generation, reducing pressure on India’s power distribution networks. (Image Credit: Pexels)
Aiko and ACAP’s innovation addresses efficiency challenges in PV by transforming high-energy photons into multiple electrons. (Image Source: Aiko)
Pennsylvania’s solar pipeline includes 9 farms under construction and 480 queued projects, showcasing its renewable potential. (Image Source: Landgate)
CEC’s new assurance role includes forming a manufacturer working group and transparent reporting for industry progress. (Image Credit/Source: Kindel Media/Pexels)
UNSW researchers found that a 75-25 chlorine-bromine mix optimally enhances performance in perovskite solar cells. (Image Source: ScienceDirect)