Jan 28, 2021 The Solar Man
INDIA: Third Fastest Solar Developing Country
The fast-paced developing Industry, Solar Power in India has been on the rise for quite some time now. India has the world’s third fastest expanding solar program, next only to China and USA. As of 30th September 2019, a total of 31.101 GW capacity of Solar Power Plants have been installed, based on data provided by MNRE. The average current price of solar electricity has dropped to 18% below the average price of its coal-fired counterpart, leading to India being one of the nations which has the lowest capital cost globally to install the solar power plants. Solar currently accounts for 41% of the new power capacity added in 1H 2019. In addition to this, India is currently targeting 100 GW by 2022 while targeting an investment of US$100 billion.