Is India's Solar Mission Achievable - The Market Perspective

Is India’s Solar Mission Achievable - The Market Perspective

Summary

The Indian economy is growing at a faster pace and is expected to near a double-digit growth in the coming future. To fuel this expeditious growth, the country would need to rely increasingly on fossil fuels. However, the already growing environmental and economic concerns are dictating the need to switch away from fossil fuels. Therefore, the need to maximize the development of domestic supply options and diversification of energy sources assumes great significance. Although initially the development process may favor least-cost alternative energy options, strategic and environmental concerns are likely to increase the pressure for a greater share of relatively costlier forms of renewable energy. Thus, a balanced approach for the development of new and renewable sources of energy is required to be developed.

Scope

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