(Jan 12): The price paid for solar power in India at auction is
set to fall below last year’s record lows for the South Asia nation,
driven by plummeting panel prices, falling interest rates and
competition among developers seeking a slice of the country’s renewables
market.
Prices could dip lower than the 4.34 rupees (6 cents) a kilowatt-hour offered in auctions held in the state of Rajasthan a year ago, according to at least one developer of solar projects in India.
“This year we will see prices fall below 4 rupees a kilowatt-hour for sure and it will be viable,” said Rahul Munjal, chairman and managing director of Hero Future Energies Pvt, the clean-energy arm of Hero Group, one of India’s largest automakers.
In 2016, countries from Chile to the United Arab Emirates broke records with deals to generate electricity from sunshine for less than 3 cents a kilowatt-hour, half the average global cost of coal power. With China and Japan joining the competitive-bidding bandwagon, as much as 25 gigawatts of solar capacity could be awarded through auctions this year globally, according to Bloomberg New Energy Finance
Prices could dip lower than the 4.34 rupees (6 cents) a kilowatt-hour offered in auctions held in the state of Rajasthan a year ago, according to at least one developer of solar projects in India.
“This year we will see prices fall below 4 rupees a kilowatt-hour for sure and it will be viable,” said Rahul Munjal, chairman and managing director of Hero Future Energies Pvt, the clean-energy arm of Hero Group, one of India’s largest automakers.
In 2016, countries from Chile to the United Arab Emirates broke records with deals to generate electricity from sunshine for less than 3 cents a kilowatt-hour, half the average global cost of coal power. With China and Japan joining the competitive-bidding bandwagon, as much as 25 gigawatts of solar capacity could be awarded through auctions this year globally, according to Bloomberg New Energy Finance
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