Solar power at a little more than Rs 1/kwh is now a reality-I: Is it over for fossil fuels?
Mexico's latest solar tender has elicited a price of just US$17.70 per megawatt hour (MWh), down more than 50% since the start of 2016. 8This is unprecedented, as the cost of power comes down to just a little more than Rs 1/kwh. 8This changes the paradigm entirely even in India as it won't be long before what is happening in Mexico happens in India as well. 8An extensive electricity sector model playing out to 2027 by one of the world's foremost research agency carried here shows that growing electricity needs in India will be catered to via increasingly cost-competitive renewable energy resources coupled with numerous energy efficiency measures. 8This is going to happen even as electricity demand doubles over this 10 year period. 8This model by an acclaimed research agency is sharply in contrast to the International Energy Agency (IEA) forecast of India’s coal consumption doubling by 2040. 8The pace of progress is incomprehensibly quick these days and the best business models based on conventional knowledge are rapidly crumbling in face of such dramatic changes Click on Reports for more