India’s massive effort towards renewable energy has resulted in considerable drop in solar price and the country now believes that the solar power is cheaper than coal without subsidy, US lawmakers have been told. “I was really struck by just the transition in this single year between April and June, driven I think by decisions in India related to that dropping price,” influential Senator Jeff Merkley said during a Congressional hearing last week. Merkley said during the hearing on Energy and International Development that because of India’s effort in renewable energy there has been a considerable drop in solar price.
He referred to his conversation with Prime Minister Narendra Modi about the transition. “At one point in a conversation with the Prime Minister in India, he was relaying – this is now outdated, but he wanted to reach two-thirds of the 300 million folks in India with electricity from coal-powered plants and a third with renewable,” he said. Read More…
Latest posts by The Financial Express (see all)
- ‘At Least 40,000 Passengers Will Ride The Bullet Train By 2022’ - March 5, 2018
- India’s Crude Steel Production Grows By 6% In 2017 - February 7, 2018
- Budget 2018: Solar industry seeks clarity, relief in safeguard duty - January 29, 2018