Solar electricity prices hit a record low, thanks to the 750-MW Rewa ultra mega solar power project in Madhya Pradesh. “India marches on towards realising the clean energy vision of Hon’ble PM Narendra Modi,” tweeted power minister Piyush Goyal at the close of bidding.
Key points to note about the solar electricity prices:
- Prices quoted for the project are ₹2.97/unit (first year cost) and ₹3.29/unit (cost over 25 years). This is better than than the previous best of ₹4.34/unit from solar
- Competitive to the average cost of around ₹3/unit for electricity supplied by NTPC from coal-fired plants.
- Also beats the price of around ₹4/unit for electricity from wind
Key enablers for the low solar electricity prices:
- Falling costs for solar panels that contribute to 40% of fixed costs
- Guarantees for grid availability, payment of dues and sufficient project setup time from the government
Indian rooftop owners have more to gain from decentralized rooftop solar plants. Utilizing empty rooftops to tap the Sun’s power at your home or office can help reduce your electricity bill for the next 25 years. It also reduces dependence on polluting sources, such as coal, keeping our environment clean.
To make this great investment for your and our country’s future:
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