Modi to Use Solar to Bring Power to Every Indian Home by 2019

solar-canalsWe’ve been discussing the implications Modi being elected in India would have on the price of gold for nearly 9 months at SD- but it appears that gold won’t be the only precious metal majorly affected by Modi’s policies.
Bloomberg is reporting that Modi has announced plans for a massive solar power initiative to bring power to every Indian home by 2019. 
Considering the fact that nearly 1/2 billion people in India currently are without access to electricity, the Modi plan would bring monumental new demand to the solar panel industry- as well as to one of the solar panel’s main components…..SILVER. 


As Bloomberg reports:

India’s new government led by Narendra Modi plans to harness solar power to enable every home to run at least one light bulb by 2019, a party official said. “We look upon solar as having the potential to completely transform the way we look at the energy space,” said Narendra Taneja, convener of the energy division at Modi’s Bharatiya Janata Party, which swept to power on May 16 in the biggest electoral win in three decades. About 400 million people in India lack access to electricity, more than the combined population of the U.S. and Canada.

 

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