{"id":9739,"date":"2017-06-27T14:49:02","date_gmt":"2017-06-27T19:49:02","guid":{"rendered":"https:\/\/solarroyal.com\/wp\/?p=9739"},"modified":"2019-08-05T15:21:47","modified_gmt":"2019-08-05T20:21:47","slug":"solar-power-prices-hit-record-low-india","status":"publish","type":"post","link":"https:\/\/solarroyal.com\/wp\/solar-power-prices-hit-record-low-india\/","title":{"rendered":"Solar power prices hit record low in India"},"content":{"rendered":"<p>Wholesale solar power prices have reached another record low in <a href=\"https:\/\/solarroyal.com\/wp\/green-initiative-takes-railway-solar\/\">India<\/a>, faster than analysts predicted and further undercutting the price of fossil fuel-generated power in the country.<\/p>\n<h3>The Role of India on the Global Stage<\/h3>\n<p>The tumbling price of solar energy increases the likelihood that India will meet its renewable energy targets. Those targets were set at the Paris climate accords in December of 2015. The likelihood of India actually exceeding their targets is becoming more likely by the day.<\/p>\n<p>India is the world\u2019s third-largest carbon polluter, with emissions forecast to at least double as it seeks to develop its economy and <a href=\"https:\/\/solarroyal.com\/wp\/solar-energy-advantages-access-electricity\/\">lift hundreds of millions of citizens out of poverty<\/a>.<\/p>\n<p>Ensuring it generates as much of that energy as possible from renewable sources remains crucial. India has become a leader in fight to against catastrophic global temperature increases.<\/p>\n<p>Analysts called the 40% price drop \u201cworld historic\u201d. They said cheaper finance drove the drop. Growing investor confidence in India\u2019s pledge also helped drive prices down. India is truly showing their dedication to dramatically increase their renewable energy capacity.<\/p>\n<p>It reduces the market price of solar tariffs well past the average charged by India\u2019s largest thermal coal conglomerate. These tariffs are currently around 3.20 rupees per kWh . Wholesale price bids for wind energy also reached <a class=\"u-underline\" href=\"http:\/\/www.hindustantimes.com\/business-news\/wind-tariff-in-india-falls-to-all-time-low-of-rs-3-46-per-unit\/story-vl7yh6y6siQRLsMPqdIvsK.html\" target=\"_blank\" rel=\"noopener noreferrer\" data-link-name=\"in body link\">a record low<\/a> of 3.46 rupees in February.<\/p>\n<h3>Renewable Energy Prices Continue to Plummet<\/h3>\n<p>At a reverse auction in Rajasthan on Tuesday, power companies Phelan Energy\u00a0and Avaada Power each offered to charge 2.62 rupees per kilowatt-hour (kWh) of electricity generated from solar panels they hope to build at an energy park in the desert state. Last year\u2019s previous record lowest bid was 4.34 rupees per kWh<\/p>\n<p>Kanika Chawla, a senior programme lead at the Delhi-based Council for Energy, Environment and Water (CEEW), said it was encouraging. Rajasthan project bidders were \u201cnew players, not the same old market leaders\u201d.<\/p>\n<p>\u201cIt shows there is enough happening to attract investment, attract interest from companies who have otherwise been cautious,\u201d she said.<\/p>\n<p>Prices were likely to drop further if the cost of borrowing money continued to fall \u2013 which she said was one of the major drivers in the record low prices this year.<\/p>\n<p>\u201cAny future incremental gains in prices will not come from the decline in technology prices, they will come from declines in the cost of finance,\u201d she said.<\/p>\n<p>A recent move to make the state-backed Solar Energy Corporation of India a guarantor in agreements between energy developers and India\u2019s debt-ridden power distribution companies likely also encouraged investors further.<\/p>\n<p>Read more from <a href=\"https:\/\/www.theguardian.com\/environment\/2017\/may\/10\/indian-solar-power-prices-hit-record-low-undercutting-fossil-fuels\" target=\"_blank\" rel=\"noopener noreferrer\">The Guardian<\/a><\/p>\n<p>Learn more about renewable energy <a href=\"https:\/\/solarroyal.com\/wp\/ventilation-101-basics\/\" target=\"_blank\" rel=\"noopener noreferrer\">here.<\/a><\/p>\n<p>Read more <a href=\"https:\/\/solarroyal.com\/wp\/category\/solar-powered-ventilation-news\/page\/3\">solar industry news<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wholesale solar power prices have reached another record low in India, faster than analysts predicted and further undercutting the price of fossil fuel-generated power in the country. The Role of India on the Global Stage The tumbling price of solar energy increases the likelihood that India will meet its renewable energy targets. Those targets were set at the Paris climate accords in December of 2015. The likelihood of India actually [&hellip;]<\/p>\n","protected":false},"author":180,"featured_media":10316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,2],"tags":[2576,2579,2577,2578,2570,2572,2580,2575,94,2573,2574,117,2571],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.5 (Yoast SEO v19.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solar power prices hit record low in India : staging<\/title>\n<meta name=\"description\" content=\"Wholesale solar power prices have reached another record low in India, faster than analysts predicted and further undercutting the price of fossil fuel-generated power in the country. 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