The US has been using the fund to promote its own solar manufacturing. The US Exim Bank and the OPIC have been offering low-interest loans to Indian solar project developers on the mandatory condition that they buy the equipment, solar panels and cells from US companies. This has distorted the market completely in favour of US companies.
- Price of solar panels crashes making domestic solar panel manufacturers worry (eco-business.com)
- Solar Power’s Hidden Costs (wealthwire.com)