The World Bank’s Board of Executive Directors today approved financing to accelerate India’s national program for solar rooftops to bring clean energy to millions of homes and create 1.7 million job opportunities across the renewable energy manufacturing, installation, and services value chain.
WASHINGTON, July 9, 2026—The Board of Executive Directors of the World Bank has approved a financing package aimed at speeding up the implementation of India’s nationwide rooftop solar initiative. The investment is intended to expand access to clean electricity for millions of households while supporting the creation of approximately 1.7 million jobs throughout the renewable energy value chain, including manufacturing, installation, and related services.
India has pledged to reach net-zero emissions by 2070 while also targeting an increase in the share of electricity generated from non-fossil-fuel energy sources to 60 percent of the country’s power mix by 2035.
Although utility-scale solar power has expanded significantly across the country, the adoption of rooftop solar systems by residential consumers has remained comparatively low. To address this gap, the Government of India introduced the PM Surya Ghar: Muft Bijli Yojana initiative, which offers incentives for installing rooftop solar systems on 10 million households in both rural and urban areas. The program is designed to lower electricity expenses for families while also promoting domestic production of rooftop solar equipment.
“The World Bank has been supporting India’s solar rooftop sector for over a decade, mobilizing more than $2 billion to catalyze market growth from 500 MW to over 27 GW of installed capacity,” said Paul Proccee, World Bank Acting Country Director for India. “This new financing will help India scale up residential solar, while creating job opportunities across the supply chain and installation ecosystem.”
The overall financing package consists of an $820 million loan provided by the International Bank for Reconstruction and Development (IBRD), a $60 million concessional loan from the Clean Technology Fund, and a $10 million grant through the IBRD’s Livable Planet Fund. Alongside these resources, the World Bank will help mobilize an additional $4.2 billion in private-sector financing through commercial loans, allowing households to install rooftop solar systems.
“The program will transform the residential solar market by removing financial barriers and building the capacity of distribution companies, banks, and vendors to deliver integrated service solutions,” said Moez Cherif, Task Team Leader of the program. “Through collateral-free financing, households can install solar power and significantly reduce their monthly electricity bills.”
Originally reported by World Bank Group on Jul 9, 2026.
