Letting the Sun Shine in: The Role of Development Finance Institutions in Catalyzing Investments in the Indian Solar Industry
Dutta, Shuvam
2013
- Submitted in partial fulfillment of the degree Master of Arts in Law and Diplomacy at the Fletcher School of Law and Diplomacy. Access to energy is a fundamental building block of economic development, yet many developing country power sectors face acute challenges with insufficient and expensive generation compounded by limited and ageing distribution infrastructure. India is no exception to this ... read moretrend. About 100,000 villages in India (17 percent) remain un-electrified, and almost 400 million Indians are without electricity coverage. Untold numbers of businesses suffer from lack of reliable power for industrial processes or because they cannot get their goods to the market. Solar energy is the largest renewable resource available and solar photovoltaic is the fastest growing energy source in the world. Consequently, massive investment has been occurring globally right across the solar supply chain. A massive drop in the installed costs of solar photovoltaic and the increasing cost of fossil fuels is making solar increasingly more competitive with traditional sources of electricity. Solar photovoltaic is particularly well suited to off-grid applications, making it ideal for rural electrification. In this paper, I outline the opportunity that solar power represents for India to address its energy deficit and how fostering private sector participation is pivotal to ensure that the capacity of renewable energy is harnessed for development in India.read less
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