Solar Power to cost equal to coal by 2017 in India
Today, solar power costs more than twice as much as the 5.42 rupees perkilowatt-hour that it costs to deliver electricity to consumers.
The cost of fossil-fuel electricity may rise as much as 5.5 percentannually as India has to buy more expensive imported coal and replaceaging plants, Kamath said. The country’s coal deficit may triple overthe next five to seven years, a unit of Moody’s Investors Service saidin a February report.
Solar power prices are projected to decline by 7 percent a year inthe next decade on more efficient technologies and lower manufacturingcosts, the report said.
If solar power becomes competitive with other sources, India couldadd 39,070 megawatts of grid-connected solar projects from 2017 and2022, including residential rooftop panels and 18,455 megawatts ofsolar-powered telecommunication towers and agricultural water pumps,according to the report.
The government has set a target of installing 22,000 megawatts of solar power capacity by 2022.
India, Asia’s third-largest energy consumer, may be able to produceelectricity from the sun as cheaply as from coal and other fossilfuel-based power plants by 2017, according to KPMG LLP.
India may install three times as much solar capacity as thegovernment intends by 2022 if sun-powered electricity is able to matchthe cost of conventional power, a point referred to as grid parity, said KPMG’s Executive Director Santosh Kamath, lead author of a solar report to be released this week.
“We are heading for grid parity and it’s just a question of when,”Kamath, who heads the advisory firm’s India renewable energy practice,said in a phone interview. “In that scenario, the adoption of solarbecomes entirely market-driven.”
India, which produces 71 percent of its electricity from coal, seeksto add 120,000 megawatts of power by 2017 to reduce blackoutsthreatening development in the world’s second-fastest growing majoreconomy. Indian companies have announced about $7 billion of overseasenergy acquisitions since January 2010 as they seek coal, uranium andother fuels, according to data compiled by Bloomberg.
Headway Solar has an experienced team of PV Solar Power Plant Consultants in India.Apart from being Solar Power Plant consultants, we provide completerange ofSolar Products and Services. We are a young company and we strive toexcel in the best and latest technologies of the Solar Industry. Articles l Homepage
- Solar on Breweries Across the U.S
- How Green Windows Provide Energy Efficiency
- Solar + Cloud Computing: Google’s Project Loon
- Wood as a Green Material
- In Focus: Green Engineering Advancements
- The Electric Vehicle Market in 10 Years
- Panasonic: 100M Li-Ion Tesla Batteries Ship This Month
- In Focus: India’s Energy Ties with Iran
- New Renewable Energy Projects Approved by Obama Adminstration
- The Solar Robots are Coming!
- Florida Has Spoken: More Renewable Energy!
- Bloomberg Announces Insane NYC Climate Plan
- SunRun Wants Utilities to Innovate Rooftop Solar
- UW Professor Designs Solar Cells that Store Energy
- Buffet Bets Against Nuclear
- Squirrels: Solar’s Biggest Threat?
- Facebook’s Hydroelectric Data Center Opens in Sweden
- Renewable Energy Funding in South Africa