Islamabad, September 27, 2021: A recent study shows that a major hurdle in the installation of home-based rooftop solar systems is arranging money for them. Its authors say that the demand and need for these solar systems is rising constantly but difficulties in financing them are hindering their diffusion in areas where they are needed the most.
The study titled ‘Unlocking the Economic Potential of Rooftop Solar PV in Pakistan’, carried out by Rural Development Policy Institute (RDPI), was launched in a webinar on Thursday. The study highlights the potential of rooftop solar PV in Pakistan and shows the unequal picture of solar financing landscape along with several barriers restricting rooftop solar drive.
While presenting the findings of the study, Naila Saleh—author of the study and Project Lead at RDPI–said, “Financing is critically important for transition towards capital intensive technologies such as solar PV characterized by high upfront cost.” Speaking about the concessionary financing scheme introduced by State Bank of Pakistan (SBP) to promote rooftop solar systems, she said that restricted lending under the scheme and difficulties in acquiring finance due to stringent securitization has limited the scheme’s scope.