India shows the path for cheaper solar energy: World Bank


India shows the path for cheaper solar energy: World Bank

It is better to move towards solar energy than to continue to build coal plants, World Bank President Jim Young Kim said today, citing India’s massive efforts in solar energy which has made it “cost effective” and “quite competitive”.

“There’s some really good news. We’ve our IFC (International Finance Corporation), our private sector group, has been working in India and as recently as a year and a half, two years ago, the price of solar was still around 10, 11 cents per kilowatt hour.

“And so coal was still much cheaper than solar. But the latest option that we’ve been involved in got that price down to 4.4 cents a kilowatt hour. So now solar is quite competitive with coal,” Kim told reporters. Read More…

 

Credit By : ET Energy World

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