World Bank Funds More Rooftop Solar in India, Clean Energy in Pakistan

The World Bank has approved new financing to expand rooftop solar in India and support clean power upgrades in Pakistan. This is international development news, not a U.S. rebate program, but it points to where global rooftop solar costs and technology are heading.

In India, the World Bank's board approved an $820 million loan, plus a $60 million loan from the Clean Technology Fund and a $10 million grant, to back the country's PM Surya Ghar rooftop solar program, which aims to bring panels to 10 million households. The Bank says it will also help line up $4.2 billion in private financing so households can install solar without upfront collateral, aiming to cut monthly electricity bills. India has installed rooftop solar capacity that has grown from 500 megawatts to more than 27 gigawatts over the past decade with the Bank's help.

In Pakistan, the World Bank approved $375.9 million for the first phase of a 10-year plan to upgrade the country's electricity grid. The money will pay for equipment at dozens of substations meant to reduce outages and let more wind power flow onto the grid, unlocking power that's currently being wasted. Pakistan is aiming for 60 percent renewable electricity by 2030.

Neither program applies directly to U.S. homeowners, but they reflect a broader trend of falling costs and financing options making rooftop solar more accessible worldwide, including in the U.S., where local rebates and financing programs continue to vary by state.