Foreign investors have been partnering with local energy producers in India to fund the development of the country’s solar power sector. India has already received funding from Singapore, Norway, and Abu Dhabi among others. Greater levels of domestic and foreign investment could see India becoming a major renewable energy hub over the next couple of decades.
India’s steady economic growth has led to a rise in energy consumption. India’s annual CO2 emissions are now the third highest in the world. The International Energy Agency however pointed out that India’s CO2 emissions per person “put it near the bottom of the world’s emitters, and they are lower still if you consider historical emissions per person.” The same is true of energy consumption: the average household in India consumes a tenth as much electricity as the average household in the United States.