India could raise allocation for grid-connected rooftop solar projects to Rs5,000 cr

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India is likely to increase fund allocation to promote grid-connected rooftop and small solar projects to Rs5,000 crore ($925.93 million).

Press Trust of India reports that the decision could be taken at a meeting of the Union Cabinet today.

The government had previously allocated Rs600 crore ($111.11 million) for the project during the twelfth plan period.

With the national target for grid-connected rooftop projects raised to 40 gigawatts of installed capacity by 2022, the revision is perhaps warranted. The report does not indicate whether the recent WTO trade court order which went against India granting subsidies for solar power development under the National Solar Mission.

Currently, the government provides financial assistance of 15 per cent of the benchmark cost for the installation of grid-connected rooftop solar systems on four categories of building — residential, institutional, government and social sector.

Ajith Kumar S

[email protected]

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