Deutsche Bank has revised its growth solar forecast in India, expecting the country to reach 34 gigawatt's by 2020, a 240 percent increase from its previous projection of 14 gigawatts. The bank went on to say in its India 2020: Utilities & Renewables report that by 2020 India's investment in solar power could exceed the funding of coal and reduce dependence on it by around 8 percent. These savings would amount to $17 billion a year if solar capacity is continually improved. In addition, the bank's new projections show that solar will be cheaper than conventional energy sources such as coal, gas or nuclear over time.
Deutsche Bank has revised its growth solar forecast in India, expecting the country to reach 34 gigawatt's by 2020, a 240 percent increase from its previous projection of 14 gigawatts. The bank went on to say in its India 2020: Utilities & Renewables report that by 2020 India's investment in solar power could exceed the funding of coal and reduce dependence on it by around 8 percent. These savings would amount to $17 billion a year if solar capacity is continually improved. Market expectations are that solar equipment prices could drop a further 30-40% due to technological and efficiency improvements.