Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
India's solar power capacity crosses 10 GW: Piyush Goyal
https://www.thedollarbusiness.com/news/indias-solar-power-capacity-crosses-10-gw-piyush-goyal/49674[font face=Serif][font size=5]India's solar power capacity crosses 10 GW: Piyush Goyal[/font]
[font size=4]This brings India closer to attaining 100 GW solar power capacity by 2022[/font]
[font size=3]…
The crossing of 10 GW milestone is a stepping stone to attaining the proposed goal of 100 GW solar power capacity by 2022. India aims to augment its overall renewable energy generation capacity to 175 GW by 2022.
The transparent and fiercely competitive auctioning of solar and wind energy capacity recently brought down unit prices of renewable energy to multiple year lows recently. While solar energy reached an all time low price of Rs. 2.97 per unit, wind energy prices dipped to Rs. 3.46 per unit.
SunEdison, a US based solar energy firm and Fortum Finnsurya Energy from Finland are some of the bidders which were instrumental in bringing down prices. Renewable energy, which was, for a very long time, commercially unviable due to high costs involved, has now become extremely attractive as an investment avenue. The multifold dip in prices of wind energy turbines and solar panels has also helped greatly.
As the global focus shifts from thermal power to more sustainable modes of energy in the light of the new Paris climate change agreement of 2016, commercial interests in the renewable energy sector have soared. This will help curb the greenhouse gas emissions, to which, the traditional power generation processes contribute heavily. India makes for 4% of the world's carbon emissions. This is a lot lesser than US and China, which contribute 40% together. By 2030, under the COP21 protocol, to which India is a signatory, the country must reduce its emissions by 35% (2005 emissions taken as base). Along with augmentation of renewable energy generation, India also needs to increase its green cover, if it wants to come any close to meeting this obligation.[/font]
The Dollar Business Bureau - Mar 11, 2017 12:00 IST [/font]
[font size=4]This brings India closer to attaining 100 GW solar power capacity by 2022[/font]
[font size=3]…
The crossing of 10 GW milestone is a stepping stone to attaining the proposed goal of 100 GW solar power capacity by 2022. India aims to augment its overall renewable energy generation capacity to 175 GW by 2022.
The transparent and fiercely competitive auctioning of solar and wind energy capacity recently brought down unit prices of renewable energy to multiple year lows recently. While solar energy reached an all time low price of Rs. 2.97 per unit, wind energy prices dipped to Rs. 3.46 per unit.
SunEdison, a US based solar energy firm and Fortum Finnsurya Energy from Finland are some of the bidders which were instrumental in bringing down prices. Renewable energy, which was, for a very long time, commercially unviable due to high costs involved, has now become extremely attractive as an investment avenue. The multifold dip in prices of wind energy turbines and solar panels has also helped greatly.
As the global focus shifts from thermal power to more sustainable modes of energy in the light of the new Paris climate change agreement of 2016, commercial interests in the renewable energy sector have soared. This will help curb the greenhouse gas emissions, to which, the traditional power generation processes contribute heavily. India makes for 4% of the world's carbon emissions. This is a lot lesser than US and China, which contribute 40% together. By 2030, under the COP21 protocol, to which India is a signatory, the country must reduce its emissions by 35% (2005 emissions taken as base). Along with augmentation of renewable energy generation, India also needs to increase its green cover, if it wants to come any close to meeting this obligation.[/font]
The Dollar Business Bureau - Mar 11, 2017 12:00 IST [/font]
