Solar power tariff stooped to a record low of INR 3.15/kWh. Contract to build the 250 MW plant in Kadapah, Andhra Pradesh, went to a french company Solairedirect Energy India Private Limited. Solairedirect is a global renewable energy company which focuses on solar energy. It bid to sell electricity to NTPC (India’s state power company) at INR 3.15 per unit.
Everything about the record low Solar power tariff:
- First and foremost, the bid price is the levelised solar power tariff for 25 years without any escalations.
- This is lower than the lowest bid received for the 750 MW solar park in Rewa, Madhya Pradesh
- The lowest bid in last month’s auction Rewa was INR 2.97/kWh for year 1 and INR 3.29/kWh over 25 years
- Other bidders in the auction were Canadian Solar Energy (INR 3.39/kWh), Greenko Energies (INR 4.09/kWh), Azure Power (INR 4.38/kWh), Mohoba Solar (INR 4.54/kWh) and also Mahindra Renewables (INR 4.68/kWh)
Abundant power outtakes from solar parks seems to be responsible for these falling solar power tariff. Another reason for these low tariffs are the falling prices of solar panels. Solar module prices are likely to fall 20 percent this year due to oversupply from china.
“This trend is likely to continue for another six months,” Bridge to India, a consultancy firm, said in its latest report. “The government seems to have gone back to the drawing board to incorporate learnings from the Rewa tender and India’s first wind tender,” it added. With these sinking prices India’s solar future looks promising and bright.
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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