Deutsche Bank has updated its growth solar forecast in India , expecting the country to reach 34 billion 's by 2020 , a 20 percent increase from its previous projection of 1000 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 $ 1 billion a year if solar capacity is continually improved . Market expectations are that solar energy prices could drop a further 30 - 40 % due to technological and efficiency improvements .
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.