Best of the Week
Most Popular
1. 2019 From A Fourth Turning Perspective - James_Quinn
2.Beware the Young Stocks Bear Market! - Zeal_LLC
3.Safe Havens are Surging. What this Means for Stocks 2019 - Troy_Bombardia
4.Most Popular Financial Markets Analysis of 2018 - Trump and BrExit Chaos Dominate - Nadeem_Walayat
5.January 2019 Financial Markets Analysis and Forecasts - Nadeem_Walayat
6.Silver Price Trend Analysis 2019 - Nadeem_Walayat
7.Why 90% of Traders Lose - Nadeem_Walayat
8.What to do With Your Money in a Stocks Bear Market - Stephen_McBride
9.Stock Market What to Expect in the First 3~5 Months of 2019 - Chris_Vermeulen
10.China, Global Economy has Tipped over: The Surging Dollar and the Rallying Yen - FXCOT
Last 7 days
UK Population Growth - Latest ONS Immigration Statistics and Consequences - 24th Mar 19
The Fed Follows Trump's Tweets, And Does The Right Thing - 24th Mar 19
Yield Curves, 2yr Yield, SPX Stocks and a Crack Up Boom? - 24th Mar 19
Risk/Reward in Silver Favors Buying Now, Not Waiting for Big Moves - 23rd Mar 19
Similarities Between Stock Market Today and Previous Bull Market Tops - 23rd Mar 19
Stock Market DOW Seasonal Trend Analysis - 23rd Mar 19
US Dollar Breakdown on Fed Was Much Worse Than It Looks - 23rd Mar 19
Gold Mid-Tier GDXJ Stocks Fundamentals - 23rd Mar 19
Which Currency Pairs Stand to Benefit from Prevailing Risk Aversion? - 23rd Mar 19
If You Get These 3 Things Right, You’ll Never Have to Worry About Money - 22nd Mar 19
March 2019 Cryptocurrency Technical Analysis - 22nd Mar 19
Turkey Tourist Fakes Market Bargains Haggling Top Tips - 22nd Mar 19
Next Recession: Finding A 48% Yield Amid The Ruins - 22nd Mar 19
Your Future Stock Returns Might Unpleasantly Surprise You - 22nd Mar 19
Fed Acknowledges “Recession Risks”. Run for the Hills! - 22nd Mar 19
Will Bridging Loans Grow in Demand and Usage in 2019? - 22nd Mar 19
Does Fed Know Something Gold Investors Do Not Know? - 21st Mar 19
Gold …Some Confirmations to Watch For - 21st Mar 19
UKIP No Longer About BrExit, Becomes BNP 2.0, Muslim Hate Party - 21st Mar 19
A Message to the Gold Bulls: Relying on the CoT Gives You A False Sense of Security - 20th Mar 19
The Secret to Funding a Green New Deal - 20th Mar 19
Vietnam, Part I: Colonialism and National Liberation - 20th Mar 19
Will the Fed Cut its Interest Rate Forecast, Pushing Gold Higher? - 20th Mar 19
Dow Jones Stock Market Topping Pattern - 20th Mar 19
Gold Stocks Outperform Gold but Not Stocks - 20th Mar 19
Here’s What You’re Not Hearing About the US - China Trade War - 20th Mar 19
US Overdosing on Debt - 19th Mar 19
Looking at the Economic Winter Season Ahead - 19th Mar 19
Will the Stock Market Crash Like 1937? - 19th Mar 19
Stock Market VIX Volaility Analysis - 19th Mar 19
FREE Access to Stock and Finanacial Markets Trading Analysis Worth $1229! - 19th Mar 19
US Stock Markets Price Anomaly Setup Continues - 19th Mar 19
Gold Price Confirmation of the Warning - 18th Mar 19
Split Stock Market Warning - 18th Mar 19
Stock Market Trend Analysis 2019 - Video - 18th Mar 19
Best Precious Metals Investment and Trades for 2019 - 18th Mar 19
Hurdles for Gold Stocks - 18th Mar 19
Pento: Coming QE & Low Rates Will Be ‘Rocket Fuel for Gold’ - 18th Mar 19
"This is for Tommy Robinson" Shouts Knife Wielding White Supremacist Terrorist in London - 18th Mar 19
This Is How You Create the Biggest Credit Bubble in History - 17th Mar 19
Crude Oil Bulls - For Whom the Bell Tolls - 17th Mar 19
Gold Mining Stocks Fundamentals - 17th Mar 19
Why Buy a Land Rover - Range Rover vs Huge Tree Branch Falling on its Roof - 17th Mar 19
UKIP Urged to Change Name to BNP 2.0 So BrExit Party Can Fight a 2nd EU Referendum - 17th Mar 19

Market Oracle FREE Newsletter

Stock Market Trend Forecast March to September 2019

India Embraces Solar Power, Says Price Will Equal Thermal Power in Five Years

Commodities / Renewable Energy Dec 13, 2011 - 12:10 PM GMT

By: OilPrice_Com

Commodities

Economic South Asian superpower India has firmly embraced solar power, advancing the target date by five years for selling solar-generated electricity at the same rate as electricity generated by fossil fuel plants, from 2022 to 2017.

According to government officials, the reason for moving the date forward is plummeting tariffs in the latest solar development projects, a trend that they believe is likely to continue.


Ministry of New and Renewable Energy Joint Secretary Tarun Kapoor said, "The prices will come down further next year and will continue to fall. Earlier, our aim was that solar power will achieve grid-parity by 2022, but looking at the upbeat response from the industry, we have now reduced our target to 2017. Some big names from India have proved that a large investment will soon be possible in solar projects, as huge as 2,000 megawatts. There are other reasons as well. Internationally, the price of solar cells has come down and with improved technology, the cost of operation as a whole has been reduced, thereby increasing the efficiency."

All is not yet completely sunny for India's solar energy drive, however. Kapoor noted that several solar projects benefiting under a state program offering favorable tariffs to build 20,000 megawatts of capacity have already been delayed, adding that developers may lose contracts if deadlines are missed, commenting, "Two of the projects are behind schedule. In a few months, we should have a clear picture."

The pair of miscreants are Entegra Ltd., whose majority shareholder is MW Corp Pvt., which has yet to begin building a 10 megawatt solar-thermal plant in Rajasthan and Enterprise Business Solutions, cited for delays in an October deadline to build a 5 megawatt photovoltaic plant in Punjab.

Entegra Ltd. is disputing New Delhi's claims of sluggish performance, with its Chairman Mukul S. Kasliwal commenting that his firm faced problems raising financing for its $38 million development but that the company expects to complete the Rajasthan facility plant by its 2013 deadline. Shifting responsibility for delays to the Indian government, Kasliwal commented in an interview, "We haven't started because we're not going to do something that doesn't make sense financially. Had we been allowed to function as an SPV (special purpose vehicle), then we would've finished financing long ago."

Despite the travails of Entegra Ltd and Enterprise Business Solutions, other members of India's burgeoning solar energy community are optimistic about the government's latest pronouncements. Azure Power CEO Inderpreet Wadhwa, whose company has secured government contracts to establish solar projects to generate up to 35 megawatts said, "Solar has the same potential as personal computers had in 1970's. Technology innovations and improvements in manufacturing would drive down costs further."

Support for India's solar ambitions comes from some heavyweight fiscal analytical groups. Ernest and Young partner Sanjay Chakrabarti observed, "The extent of price reduction since 2008 has been very sharp. Although solar prices will continue to drop the fall in future may not be so sharp."

Kapoor is under no illusions however as to why foreign companies are closely following India's interest in solar energy, noting wryly, "The only reason is that India is an emerging market and one of the few countries where solar energy is encouraged at such a massive level."

And that emerging market is potentially lucrative indeed, as last year the Indian government launched its "National Solar Mission," whose objective is to establish India as a global leader in solar energy, by creating the policy conditions for its diffusion across the country as quickly as possible.

The program's goals are nothing if not ambitious, as the government had initially hoped to boost the nation's solar capacity by the equivalent of about 18 nuclear power plants by 2022, at date that's now been brought forward by five years.

Investors, anyone?

Source: http://oilprice.com/Alternative-Energy/Solar-Energy/...

This article was written by Dr. John CK Daly for Oilprice.com who offer detailed analysis on Crude Oil, Geopolitics, Gold and most other commodities. They also provide free political and economic intelligence to help investors gain a greater understanding of world events and the impact they have on certain regions and sectors. Visit: http://www.oilprice.com

© 2011 Copyright OilPrice.com- All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

gAnton
13 Dec 11, 20:48
"Crisis" & "Recovery": Two Words--One Idiocy

The rotton European economic situation and the rotton US economic situation have much in common. For example, both situations are being managed by idiots who continuously make things much worse, but who promise a return to paradise. But in both cases there is no cure, and things will continue to worsen and not get better until after a complete devastation and failure of both economies.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules