Asian Green Technology Holdings Comments On Solar Power Production And Its Role In Meeting India's Massive Energy Needs

Online, February 10, 2011 (Newswire.com) - While the United States and Europe have both attracted major investments in solar energy, investors are looking to the potential of the massive solar energy market in India.

India's growing economy needs a massive amount of power generation to sustain its growth. The country is struggling to provide electricity to its citizens and to companies that want to establish their businesses. Combining the energy shortage with concerns about lowering carbon emissions has resulted in a patchwork of government initiatives across India aimed at promoting solar energy.

India's demand for energy growing rapidly and already significant. With over 15% of the world's population India is already Asia's third largest energy consumer. Electric consumption is projected to grow by 6.5% annually through 2020, and solar energy capacity is projected to grow by 27% year on year over the same period.

Approximately 400 million Indians remain without access to power. Lack of infrastructure and the rural nature of much of India combined with latitude and available sunlight make India ideally suited for massive solar installations.

According to Asian Green Technology Holdings, "the energy market in India is thriving, and solar will be a big part of that." - Hank Mueller

If India is to meet its projected 10% GDP growth rate, averaging 8% per year over the coming 15 years, their energy consumption must expand. India already faces a massive energy deficit and is in dire need of expanded production capacity. It is highly likely that solar installations will play an important role in meeting India's energy needs.