Excerpted From The Daily Caller: India received $500 million in funding for solar panels to ratify the United Nations’ Paris agreement on global warming, according to an anonymous lender who spoke to United Press International (UPI).
India’s new cash infusion came from the Asian Development Bank, but it wasn’t exactly unexpected. Under the terms of the agreement, wealthier nations like America are expected to help finance the development of solar power in poor developing nations like India.
Despite these vast investments, India gets a mere 2 percent of its electricity from solar panels, while coal plants provide 67 percent of the nation’s power. India is currently building 87,122 megawatts of coal power capacity. As a result, in 2014 Indian carbon dioxide (CO2) emissions from energy use increased by 8.1 percent, making it the world’s fastest-growing producer of CO2. India and the rest of the developing world are projected to produce 68 percent of future CO2 emissions, according to the U.S. Energy Information Administration. Read the whole thing