About five months ago, a major push was given to the solar industry by the Asian Development Bank. Can this initiative put some force behind solar exchange traded funds (ETFs)?Under the plan, the bank will implement a variety of solar power projects that will push capacity to six times what it is today. In India, the push is especially huge: the government has allocated $20 billion to its solar program, reports Kevin Grewal for Daily Markets.
One of the most promising aspects of solar energy proliferating is that the barriers that were once in place are diminishing. For one, capital funding and financing came to a halt in the sector resulting in a glut of solar panels and ample supply to meet lackluster demand. Additionally, costs of solar panels have dropped due to technological advances and manufacturing in low-cost labor nations.
Todd Woody for The New York Times reports that Silicon Valley start-ups like Solyndra, Nanosolar and MiaSolé dreamed of transforming the economics of solar power by reinventing the technology used to make solar panels and slashing production costs. Now that they have resumed production, the companies are finding a different and more competitive industry, thanks to China, which has driven the cost of solar modules down by 40%.
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