29 Dec '11, 3pm

How India is winning the future with solar energy

India set a goal to build 20 gigawatts of solar -- an enormous amount -- by 2020. The haters said at first that the country might not make it, but lately India's plan is seeming smarter than anyone imagined . Plus, it's creating jobs -- both in India and in America! What's leading to its success? Government subsidies that are aggressive … but not too aggressive. Subsides are creating both demand and enough competition to keep prices down. Private sector support. Indian banks are beginning to see solar as a desirable investment, since, like toll roads, they're infrastructure projects that offer predictable profit over a large number of years. Renewable requirements, first for state-run utilities and now for all state-run companies. That means even coal-fired power plants might have to invest in renewables. India has incredible solar energy resources -- it's usually sunny th...

Full article: http://www.grist.org/list/2011-12-29-how-india-is-winning...

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