Asia Could Boost Solar ETFs
October 6, 2010 Leave a comment
Nearly five months ago, the Asian Development Bank started a major drive to promote the use of solar power throughout the continent which could eventually lead to positive price support in the Guggenheim Solar ETF (TAN) and the Market Vectors Solar Energy ETF (KWT).
Under this initiative, the Asian Development Bank aims to put in place solar power projects with a total capacity of 3,000 megawatts by 2013, pushing capacity to six times what it currently is. The solar move is especially taking place in India, where the government has committed $20 billion to its solar program in hopes of having 20,000 megawatts of grid-connected solar energy by 2022 and nearly 200 megawatts of off-grid solar energy by 2013. Read more of this post