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Topic : ADB Loan for Rooftop Solar Systems in India
GS-3 Mains : Economy
ADB Loan
- Amount: USD 240.5 million
- Purpose: Finance rooftop solar systems in India
- Program: Supports tranches 2 & 3 of MFF Solar Rooftop Investment Program (ADB approved in 2016, restructured in 2023 to focus on residential systems)
- Distribution:
- State Bank of India (SBI)
- National Bank for Agriculture and Rural Development (NABARD)
- These will provide loans to developers and end-users for rooftop solar system installation.
Significance of Rooftop Solar
- Reduces technical and operational burden on power grid.
- Generates electricity closer to consumption.
- Reduces need for long-distance power transmission (lowers energy loss).
- Improves efficiency of power distribution.
- Provides energy independence and minimizes disruptions.
- Supports India’s clean energy goals:
- Achieve 50% of power capacity from non-fossil fuels by 2030.
- Contributes to Surya Ghar program (encourages rooftop solar installation).
Solar Energy in India
- Most abundant & cleanest energy source.
- Usages: Photovoltaic cells (electricity), Concentrating Solar Power (CSP), Solar Thermal Collectors (heating/cooling).
- India’s Potential:
- Abundant sunshine (300 sunny days/year).
- High solar insolation (4-7kWh per sqm per day).
- Potential to reduce energy deficit and carbon emissions.
- Current Status:
- Installed solar power capacity: 81 GW (17% of total electricity).
- Largest solar parks in Gujarat and Rajasthan.
- India ranks 4th globally in solar power capacity.
India’s Solar Energy Targets
- 500 GW of renewable energy capacity by 2030.
- 50% of energy from renewable sources by 2030.
- Reduce projected carbon emissions by 1 billion tonnes by 2030.
- Reduce carbon intensity of economy by 45%.
- Become net-zero carbon by 2070.
Government Initiatives for Solar Adoption
- Solar Park Scheme: Establish 50 solar parks (500 MW each) for 38 GW capacity by 2025-26.
- PM-KUSUM: Add 30.8 GW solar power capacity by 2026.
- Decentralised solar power plants in agriculture sector.
- Replace diesel pumps with solar pumps.
- Solarize existing grid-connected agriculture pumps.
- Rooftop Solar Programme & Off-grid Solar PV Applications Programme: Provide subsidies for solar energy access.
- International Solar Alliance (ISA): Focuses on creating 450 GW of renewable energy by 2030.
- Rooftop Solar Yojana (PM Surya Ghar Muft Bijli Yojana): Provide 300 units of free monthly electricity to 1 crore households.
- Reduce electricity costs by installing rooftop solar panels.
Conclusion
- Solar energy is a viable alternative to conventional energy sources.
- It mitigates greenhouse gas emissions and reduces global warming.
- Solar energy promotes self-reliant energy generation and reduces dependence on foreign energy.
- Widespread use of efficient solar panels is crucial to meet India’s energy needs.
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