Modi has been a staunch proponent of green energy. As the previous governor of the Gujarat state, Modi implemented India’s first incentives plan for photovoltaics in 2009, a year before the national government backed solar panels.
“For President Obama and me, clean and renewable energy is a personal and national priority,” Modi said.
Without its own established solar industry, the quick ramp up could benefit outside exporters. For instance. JA Solar Holdings sees India as a key market, according to Xie Jian, president of Chinese solar panel producer. JA Solar makes up 2.5% of TAN and 1.5% of KWT.
Guggenheim Solar ETF
For more information on the photovoltaic panel industry, visit our solar category.
Max Chen contributed to this article.