Levelised Tariff for solar power project in India drops to INR3.15 per unit
The affordable solar
power in the country would boost the market for solar power products in India
India: The levelised power tariff for upcoming 250
MW solar power plant in Kapada in Andhra Pradesh dropped to INR3.15 per unit
thereby reaching all-time low. In February 2017, the levelized tariff for 750
MW Rewa Solar Park in Madhya Pradesh reached 2.97 per unit, which was then
revised to INR3.30 per unit. There has been constant decline in the power
tariff from solar power project during the past few years.
TechSci Research depicts that declining power
tariff for solar power project would make the solar power as competitive as
conventional sources of power. Over the past few years, there has been a
declining trend in the power tariff of solar power project due to the
availability of efficient and low cost solar power panels from China. This would
also helped in significant reduction of capital expenditure in the installation
of solar power projects. This would make solar power projects financially
viable. The affordable solar power project would help India to realize its aim
to install solar power capacity of 100GW by the end of 2022. This would aid the
growth of solar power products in the country
According
to released report of TechSci
Research “India
Solar Power Products Market By Product Type, Competition Forecast
& Opportunities, 2012 - 2022”, the market for
solar power products in India is forecast to grow at a CAGR of over 10% through
2022, on account of growing demand for power and increasing focus on reduction
of greenhouse gases emissions from the power sector. Development of power
transmission and distribution network is projected to increase adoption of grid
connected rooftop solar plants in the country through 2022. In addition,
implementation of Net Metering Policy across various states in the country is
anticipated to boost grid connected solar rooftop plant developments, as it
aids in exporting additional energy back to the grid.