Grid connected rooftop solar power offers a major business opportunity, said Tarun Kapoor, Joint Secretary, Ministry of New and Renewable Energy, 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 ₹4 lakh crore and is a big business opportunity for all,” said Kapoor, addressing a conference organised by The Energy Research Institute (TERI).

Of the Government’s target of setting up 100,000 MW of solar energy by 2020, 40,000 MW will come from rooftop solar power. According to the Ministry of New and Renewable Energy’s Annual Report for 2014-15, there are 71 installed projects as on March 31, 2015, with a capacity of 90.8 MW under the government’s Rooftop PV & Small Solar Power Generation Scheme.

Kapoor encouraged start-up businesses to come forward and invest in the sector. He added that 20 state regulators have issued connections and 17 states have issued policies for net metering — through which people who set up solar power panels on their rooftops can sell electricity back to the grid.

The World Bank’s Senior Energy Specialist, Mohua Mukherjee, said the multilateral bank wants to catalyse private funding through partnerships with commercial banks and is interested in developing various business models in India.

Earlier at the event, Leena Srivastava, acting Director-General of TERI, 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,” said Srivastava.

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