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Solar Forecast for China and India: Strong, But Challenging
India and China will be two of the most dynamic solar markets in the world over the next decade, but risks abound, according to analysts atIntersolar, taking place this week in San Francisco.
India, for instance, has set a goal of having 175 GW of renewable capacity by 2022 with 100 GW of that total coming from solar, according to Raj Prabhu, CEO of Mercom Capital Group. Currently, India has only 7.5 GW of solar. As a result, developers need to plant 13 GW of panels every year for the goal to be achieved.
In 2010, India had only 12 megawatts of solar: that means the industry is expanding at an exponential similar to Moore’s Law and one of the few times that that comparison holds true. Read More…