Solar Prices in India Push Out Coal – Impacts on Global Energy Markets Expected

Due to plummeting solar energy prices, leaders in India have cancelled building nearly 14 GW of coal-fired power plants– the equivalent power used by all of the UK. In 2016, a Finnish company started generating electricity at a record low tariff of 4.34 rupees ($0.06) per kWh. Just over a year later, the tariff was down to 2.44 rupees ($0.034) per kWh. A major Indian coal power utility charges 31 percent more than that. The plunging cost of solar is impacting the viability of both new and existing coal fired power plants. It is predicted that this rapid transition to solar will have deep impacts on global energy markets. Intelligent LivingIndia Times