US Solar Diplomacy Makes For Good Business For India

Solar photovoltaic (PV) is accelerating the spread of renewable energy worldwide, but going forward skyrocketing commodity prices, input costs, and transportation threaten to put a dampener on the rate of its growth despite higher fossil fuel prices. Energy shortage in China, which is estimated to control about two-thirds of the solar-grade polysilicon used in panels globally, has caused scarcity in the supply of the material.
The price of polysilicon has more than doubled in a year. The cost reductions in solar energy could reverse by three years and the result could be delays in projects planned for 2022 or cancellation, according to reports by the Paris-based International Energy Agency, an intergovernmental organization, and Oslo-based Rystad Energy, an independent energy research and business intelligence company.