Solar Power Becoming Increasingly Important in India

India’s government plans to draw 40% of the country’s energy from renewables by 2030, and it is because of the government’s commitment that India is about to become the biggest market for solar energy, said San Jose, CA-based SunPower CEO Tom Werner.

Prime Minister Modi wants to spend $3.1 billion on state aid for India’s solar panel manufacturing industry to increase India’s photovoltaic capacity and create an export industry, according to Bloomberg.

Kamuthi Solar Power Plant

The World Economic Forum says SunPower isn’t the only company taking note. Having acquired San Mateo, CA-based SolarCity,  CEO Elon Musk of Tesla is also interested in the solar energy sector in India, and might enter the market as early as this summer.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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