India solar energy boom overtakes fossil fuel

India are seemingly committed to making good on their promise to switch to clean energy by 2030.

Following a recent announcement that the country plan to get rid of all diesel and petrol cars, replacing them with electric ones, there have been new environmental measures taken.

It was reported in The Independent that state officials in Gujarati had planned to construct ‘a 4,000-Megawatt ultra-mega power project (UMPP)’.

Gujarat had proposed the UMPP last year but we now feel we do not need more,” energy minister Chimanbhai Sapariya told the Business Standard. “We already have more than sufficient generation capacityOur focus is now on renewable energy. The government will encourage solar power.

Gujarat relies on a mix of renewables and traditional power. Much of the renewable energy policy is focused around solar power and the Gujarati government plans to install solar panels on rooftops in the state.

India aims to become a solar power leader and run off one terawatt (one million million watts) of the renewable by 2030, Energy Post reported.

A poll released yesterday by The Economic Times saw India charting as second best in the renewable energy attractiveness index. This comes a little over a week after the news of India’s solar power prices falling lower than fossil fuels; a landmark event in itself.

According to The Guardian; The tumbling price of solar energy also increases the likelihood that India will meet – and by its own predictions, exceed – the renewable energy targets it set at the Paris climate accords in December 2015.

Analysts called the 40% price drop “world historic” and said it was driven by cheaper finance and growing investor confidence in India’s pledge to dramatically increase its renewable energy capacity.

It reduces the market price of solar tariffs well past the average charged by India’s largest thermal coal conglomerate, currently around 3.20 rupees per kWh . Wholesale price bids for wind energy also reached a record low of 3.46 rupees in February.

Kanika Chawla, a senior programme lead at the Delhi-based Council for Energy, Environment and Water (CEEW), said it was encouraging that Rajasthan project bidders were “new players, not the same old market leaders”.

“It shows there is enough happening to attract investment, attract interest from companies who have otherwise been cautious,” she said.”

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