Solar Water Heater Program in India-CPA-6

Audit Analysis

The Solar Water Heater Program in India (CPA-6) has VVB-confirmed additionality and recent baseline reassessment, but suffers from a significant gap between assumed and verified usage rates (280 vs 82.05), an unaddressed leakage justification, no stated buffer pool, and multiple data contradictions across documents. The low extraction confidence and absence of a verified ERR figure for the current monitoring period further undermine confidence in the project's credit claims.

Project Description

Red Flags

• ⚠Usage rate assumed at 280 in the ex-ante phase but verified at only 82.05 in the 2025 monitoring report — actual usage is roughly 29% of the assumed value, raising serious over-crediting risk
• ⚠Leakage deduction is 0% and the most recent verification report (2025) records the justification as 'not addressed', while the 2020 report stated it was 'deemed negligible' — the contradiction and lack of a current justification is a compliance gap
• ⚠No buffer pool percentage is stated in any available document, and reversal events are recorded as 'not addressed', leaving permanence risk unquantified
• ⚠The crediting period is contradictory: the 2020 verification report states 2013-02-01 to 2020-01-31, while the 2025 monitoring report states 2018-12-22 to 2024-12-24 — it is unclear whether the project was renewed or the dates are in error
• ⚠Minimum extraction confidence is rated 'low', indicating at least one key document was poorly readable, which undermines the reliability of all extracted figures

Credit Vintages