Worldwide, renewable energy has established itself as the technology of choice for new power generation capacity and India’s recent status of lowest-cost producer of solar power further reflects an ongoing shift towards renewable power as the driver of global energy transformation.
Recently an analysis by IRENA found that the costs for setting up solar PV projects have dropped by about 80 per cent in India between 2010 and 2018. India’s solar story through its compelling business case is maximizing the falling renewable technology costs as the key to future energy decarbonisation.
The country has realised that it is cheaper to build and operate solar farms than to run existing coal-fired power plants. Renewable energy also has significant environment benefits making it the single biggest driver to help us meet our carbon emission reduction targets in our fight against climate change. Read more
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