India Gets Obama’s Backing for $160 Billion Solar Push

Indian solar gets backing from ObamaPrime Minister Narendra Modi, who pioneered India’s first solar incentives as chief minister of the western state of Gujarat, won backing from U.S. President Barack Obama for an expansion of the technology nationwide.

Without giving any detail, Obama said the U.S. will “stand ready to speed this advancement with additional financing.” The remark was made at a press conference on Sunday in New Delhi as Modi reiterated his aim for India to install by 2022 five times as many photovoltaics as the U.S. has now.

India’s ambition would require $160 billion, according to Arunabha Ghosh, chief executive officer at the New Delhi-based Council on Energy, Environment & Water. It would spread solar panels across an area the equivalent of three times the size of India’s most populous city, Mumbai, and require the government to cut back on thickets of regulation holding up projects.

 




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