PV installations in India to grow at CAGR 134%

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According to a report by RNCOS on the ‘Indian solar energy market outlook for 2012’, solar energy installations in India is likely to grow at a CAGR of 134 per cent by 2013, with the support from the government and private players. At the same time, India is also expected to become one of the world’s fastest growing energy consumers during the period 2009-2013, trailing only behind China.

Additionally, with the growing competitiveness of the industrial sector, the energy consumption in India will spiral in the coming years, which will further fuel the development of the renewable energy sector in India, focusing mainly on solar energy.

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