Solar now cheaper than diesel in India making Mittal, Coca-cola and others believers.

Bloomberg: “India is producing power from solar cells more cheaply than by burning diesel for the first time, spurring billionaire Sunil Mittal and Coca-Cola Co. (KO)’s mango supplier to jettison the fuel in favor of photovoltaic panels. The cost of solar energy in India declined by 28 percent since December 2010, according to Bloomberg New Energy Finance. ….India, the third-biggest energy user behind China and the U.S., has a goal to have installed 20,000 megawatts of solar- energy capacity by 2022, about equal to 18 new nuclear reactors. That target is 10 percent of today’s total generating capacity including all energy sources. Less than 1 percent of that current power base is solar.”