India is now the forerunner in producing solar power at lowest cost globally and is far ahead of other nations in low average production costs, a report said. Beating countries like China, which usually is the cheapest manufacturer of everything, India has also left behind the US, UK, Canada and France among others.
While the global average of installing utility-scale solar PV projects was $1210 for a kilowatt, the same was found to be as low as $793/kW in India in 2018, the report by the International Renewable Energy Agency (IRENA) said. India’s neighbour China also saw very competitive installation costs of $879/kW compared to the highest rate of $2,427 per kW in Canada. Among European countries, Italy saw very competitive installation costs for 2018 at $870/kW.
“India was estimated to have the lowest total installed costs for new utility-scale solar PV projects that were commissioned in 2018 at USD 793/kW, 27% lower than for projects commissioned in 2017 Read more
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