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.
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.
