The World Bank Group has approved $890 million in financing to support India's national rooftop solar programme, providing a major boost to the country's clean energy transition, as per news reports.
The programme aims to expand rooftop solar adoption across 10 million rural and urban households while creating 1.7 million jobs in renewable energy manufacturing, installation and related services.
The financing was approved by the World Bank's Board of Executive Directors.
The package comprises an $820 million loan from the International Bank for Reconstruction and Development (IBRD), a $60 million concessional loan from the Clean Technology Fund, and a $10 million grant from the IBRD's Livable Planet Fund.
In addition, the World Bank will mobilise $4.2 billion in private financing through commercial loans to support household rooftop solar installations.
The funding will support the Government of India's PM Surya Ghar: Muft Bijli Yojana, which seeks to install rooftop solar systems across 10 million households.
The scheme is designed to lower household electricity bills while encouraging domestic manufacturing of rooftop solar equipment.
India has committed to achieving Net Zero emissions by 2070 and increasing the share of non-fossil fuel-based energy to 60% of its electricity mix by 2035.
While utility-scale solar capacity has expanded rapidly, residential rooftop adoption has remained comparatively limited, making the programme an important step in broadening clean energy access.
Paul Proccee, World Bank Acting Country Director for India, said the institution has supported India's rooftop solar sector for more than a decade, mobilising over $2 billion and helping expand installed capacity from 500 MW to more than 27 GW.
He added that the new financing will "scale up residential solar" while creating employment across the manufacturing, supply chain and installation ecosystem.
Moez Cherif, Task Team Leader, said the programme will "transform the residential solar market" by removing financial barriers and strengthening the capabilities of distribution companies, banks and vendors.
He added that collateral-free financing will enable households to install rooftop solar systems and significantly reduce monthly electricity bills.
Read More: India's EV Adoption Rises; Odisha, Delhi, Tamil Nadu Record Strong Growth!
The approved financing expands support for India's residential solar programme by combining multilateral funding with private capital mobilisation. The initiative also strengthens the country's clean energy transition while supporting employment and wider rooftop solar adoption.
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Published on: Jul 10, 2026, 2:43 PM IST
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