Submitted by: Indian Renewable Energy Development Agency
Implemented country: India
Title: Innovative financing model for developing the market for solar hot water systems
More than ten years ago, the Indian Renewable Energy Development Agency (IREDA) set the goal of transforming the highly state-subsidized sector of solar hot water production to an economically developing market. Therefore IREDA was the first financial institution in India to establish a micro-credit system for solar hot water installations. They developed financing models for all types of customers and disseminated these via IREDA network. Unique in this model is the flexible lifetime of the credit, which is adapted to the individual needs and possibilities of the customers.