Renewables would be preferred source of energy by 2030 with tariffs ranging between Rs 1.9-2.6 per unit for wind and solar power and storage cost declining by around 70 per cent, a report by Energy Transition Commission (ETC India) said.
The cost of wind power will be between Rs 2.3-2.6/kWh and of solar power in the range of Rs 1.9-2.3/kWh by 2030, the report projected. The cost of storage will fall by about 70 per cent said, the report released on Wednesday on the sidelines of the World Sustainable Development Summit held in New Delhi said.
Even considering additional costs required to balance the variability of renewables, the study projected that a grid with 30 per cent variable renewable energy generation is cost-effective as compared to a moderate RE (renewable energy) system and does not raise costs for Indian consumers.
Considering other renewables, hydro and nuclear, the share of zero carbon generation can be even higher, at 45 per cent, while the share of coal falls to almost 50 per cent, the report added. Read More