India’s renewable energy expansion is set to overtake that of the European Union for the first time by 2022. The installed renewable energy generation capacity in the country would also double by then, says a report titled ‘Renewables 2017’ released by the International Energy Agency.
Solar photo voltaic (PV) and wind together would represent 90% of India’s capacity growth in the coming years as auctions have yielded some of the world’s lowest prices for both the technologies, the report said.
Boosted by a strong solar PV market, renewables accounted for almost two-thirds of the net new power capacity around the world last year, with almost 165 gigawatts (GW) coming online. New solar PV capacity grew by 50% globally last year, with China accounting for almost half of the expansion. For the first time, solar PV additions rose faster than any other fuel, surpassing the net growth in coal. Read More…
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