India gets support for solar power

India gets support for solar power
05/10/2016 , by , in ALLIED

After depositing its signature to the Paris climate deal, India’s low-carbon objectives received financial support to advance solar energy.

The Asian Development Bank said it would set aside $500 million in funding to help advance a rooftop solar energy system to help India acclimate to what, for the country’s energy sector, is emerging technology.

“There is huge potential for India to expand its use of solar rooftop technologies because of the sharp drop in the price of solar panels, meaning the cost of producing solar energy is at or close to that from fossil fuels,” Anqian Huang, a regional specialist at the ADB’, said in a statement. “Sourcing more solar energy will also help India meet the carbon emissions reduction target that it has committed to as part of the recent global climate change agreement.”

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