Rooftop solar projects offer opportunity of Rs.4 lakh crore: MNRE

Grid connected rooftop solar power offers a major business

opportunity of up to Rs.400,000 crore, a senior government official said on Tuesday.

"Grid connected rooftop solar power is the most important sector as far as renewables are concerned. This 40,000 MW project requires an investment of up to Rs. 4 lakh crore and is a big business opportunity for all," said Tarun Kapoor, joint secretary, ministry of new and renewable energy (MNRE), addressing a conference here organised by The Energy and Resources Institute (TERI).

"Twenty state regulators have issued connections and 17 states have issued policies for net metering," he added, regarding the system by which people who set up solar power panels on their rooftops can sell electricity back to the grid.

The government has set a target of 100,000 MW from solar energy by 2020, 40,000 MW of which will come from rooftop solar power.

Talking about the ministry withdrawing subsidy, he said, MNRE will "continue to work on options that get the consumers cheap loans", while looking at "multilateral and bilateral funding" that attracts money in the country at a cheap rate".

Speaking earlier, acting director-general of TERI Leena Srivastava said private sector investment in the sector will come in only if they see "adequate returns".

"Taking a systemic approach towards implementing this large and ambitious programme, ensuring it is a win-win for all stakeholders is critically important," she said.