India Just Made Solar Cheaper Than Coal
In 2015 India announced an astounding goal, that solar energy would become cheaper than coal in 5 years. By 10% in fact. This is a monumental task in India where 6 of the 10 most polluted cities of the world reside.
Well now in 2016 it’s revealed that India will not reach its goal by 2020; because they already reached it in 2016.
India has just announced that solar is now cheaper than coal and is speeding towards having a massive supply of solar power. This of course is a massive improvement towards having cleaner air, and reducing pollution. Especially in low income or developing areas, where switching to renewable energy sources is crucial to the well-being of the planet.
With this new information the Deutsche Bank has even concluded that solar could upheave coal as the prominent power source by 2020. Especially as capital costs for solar plants are down 60% over the last four years; and are poised to fall even further.
With the current rates of solar power India expects to deploy around 100 Gigawatts of renewable power by 2022. A single GW of solar power can power up to 750,000 homes and is the equivalent to two coal-fired power plants.
Prime Minister Piyush Goyal mentioned during the country’s 15-point plan:
“There are challenges to 24/7 power … we have been able to come up with a solar-based long term vision that is not subsidy based.”
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Eric is the owner and CEO of Protek Support and is a CISSP (Certified Information Systems Security Professional). He graduated from Utah State University with a Bachelors of Science degree in Business with an emphasis in Information Technology (IT). He is an IT Services expert in a variety of technology related fields. Some of these fields include document management software/hardware, enterprise level networking and VoIP phone systems, as well as large scale software implementation projects and the setup of small business networks.