News in the past few days suggests that the Indian government has tabled a proposal which if implemented would put in place 10 GW of solar energy between 2012 and 2017.
The Indian Jawaharlal Nehru National Solar Mission already has a target of adding 20 GW of solar energy by 2022. Hopefully, this latest proposal will help to front-end load India’s progress towards the country’s objectives on solar. The proposal, which includes targets on a range of alternative energies from wind to hydro, is apparently already in the hands of the Indian planning commission.
Alongside other initiatives, such as Saudi Arabia’s recently announced $109 bn plan to build out 40 GW of solar by 2032, India’s proposal certainly points to healthy demand growth for solar over the long-term.
From an investment perspective, however, the market continues to face pressure as a result of the extensive oversupply currently undermining the industry. You can read a fuller discussion of these issues here.
Disclosure: I have no positions in solar stocks.