While India achieved 100% household electrification in 2019 across the country, about 40% of rural MSME customers, especially in low-income states of North & East India (UP, Bihar, Jharkhand, Odisha and others), are still not connected to the grid. Hence, millions of rural and peri-urban MSMEs, burn ~1 billion liters of diesel each year due to unavailability and/or unreliability of the main grid.
SPI will work on the following work streams:
Crowding-in key market actors including:
- Project developers (ESCOs)
- Financing partners
Putting structural elements in place to support market actors including:
- Raising consumer awareness
- Demand aggregation
- Technology platform
- Leveraging existing DFI-Driven schemes
SPI aims to build the market for Rooftop Solar to reach 100 MW installation by 2024 to displace 150,000 tons of carbon annually, by crowding-in relevant actors, including project developers & financiers, and unlocking the solar rooftop market for millions of diesel-dependent MSMEs across low-income states of North & East India.