India's Rooftop Solar Ambitions Face Roadblocks Amid Loan Delays

India's rooftop solar rollout is hindered by loan delays and lack of state support, jeopardizing efforts to move from coal dependency. Despite subsidies, application approvals lag, with banks demanding extensive documentation. The push for solar faces scepticism from state utilities worried about revenue losses.

India's ambitious plan to ramp up rooftop solar power is faltering due to significant challenges in obtaining bank loans and insufficient backing from state utilities. Although subsidized, a large portion of applications remain unapproved, casting doubt on India's clean energy goals.

The government's initiative, meant to cover up to 40% of installation costs, faces hurdles as banks are slow to issue loans over worries about documentation and public funds. This reluctance threatens the transition from coal-fired power despite the government's pledge for rapid clean energy expansion.

State utilities are also hesitant, fearing revenue losses as more households move off the grid. Experts argue that such resistance could undermine India's broader environmental objectives, highlighting the delicate balance between economic and sustainable energy interests.

(With inputs from agencies.)