India’s renewable energy cost is the lowest in the Asia Pacific, consultancy Wood Mackenzie said on Monday.<\/p>\n
India’s levelised cost of electricity (LCOE) using solar photovoltaic has fallen to $38 per megawatt hour (MWh) this year, 14% cheaper than coal-fired power that has traditionally been the cheapest source of power generation, WoodMac said.<\/p>\n
LCOE comprises the cost of generating a megawatt-hour (MWh) of electricity, the upfront capital and development cost and the cost of equity and debt finance and operating and maintenance fees.<\/p>\n
“India is the second-largest power market in Asia Pacific with installed power capacity of 421 gigawatts (GW). Solar capacity is expected to reach 38 GW this year,” WoodMac research director Alex Whitworth said.<\/p>\n
“High-quality solar resources, market scale and competition have pushed solar costs down to half the level seen in many other Asia Pacific countries.”<\/p>\n
India wants to have 175 GW of renewable-based installed power capacity by 2022.<\/p>\n
Australia, which ranks second in terms of low renewable costs, will see solar power to be cost-competitive against coal next year, the consultancy said.<\/p>\n
Solar LCOE has fallen 42% in the past three years and will reach $48\/MWh in 2020, beating out all fossil fuel competitors, WoodMac added.<\/p>\n","protected":false},"excerpt":{"rendered":"
India’s renewable energy cost is the lowest in the Asia Pacific, consultancy Wood Mackenzie said on Monday. India’s levelised cost of electricity (LCOE) using solar photovoltaic has fallen to $38 per megawatt hour (MWh) this year, 14% cheaper than coal-fired power that has traditionally been the cheapest source of power generation, WoodMac said. LCOE comprises the cost of generating a megawatt-hour (MWh) of electricity, the upfront capital and development cost and the cost of equity and debt finance and operating and maintenance fees. “India is the second-largest power market in Asia Pacific with installed power capacity of 421 gigawatts (GW). […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-285002","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/285002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=285002"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/285002\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=285002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=285002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=285002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}