Utility Scale RE

What led to historic low solar tariff of Rs 2/ kWh in India? India set a new record low tariff of Rs 2/kWh ($0.027/kWh) set during the Solar Energy Corporation of India (SECI) auction on 23 November 2020, the solar panel price in India has become increasingly competitive. This auction aimed to select developers for 1,070 megawatts (MW) of grid-connected solar PV projects in Rajasthan. With 14 developers participating and a total bid of 4,350MW, the tender was oversubscribed by…

Wind-Solar Hybrid: India’s Next Wave of Renewable Energy Growth An Analysis of Tariff Trends, Policy and Regulation, and Challenges in a New Market India’s total renewable power installed capacity is 88 gigawatts (GW), with ~38 GW of standalone wind energy capacity and 35GW of solar energy capacity as of August 2020. India has plans to reach a total 175 GW of renewable energy (including 100 GW of solar and 60GW of wind) by 2022 and 450 GW by 2030. As…

India Unable to Compete With Record Low Solar Tariffs in Gulf Region An Analysis of Why the Gulf Region Has the Cheapest Solar Tariffs In a new report from JMK Research & Analytics and the Institute for Energy Economics and Financial Analysis (IEEFA), a detailed analysis is done to analyse why the Gulf region has the cheapest solar tariffs in the world. It is unlikely that India or indeed other countries will be able to achieve the same low solar…

Developers and Global Investors Snap Up India’s Solar Power Tenders – Decoding Tariffs vs. Returns for Solar Projects in India In our joint study with IEEFA, we have analysed that current solar tariffs (hovering at Rs2.50-2.87/kWh) have stabilised at rates about 20-30% below the cost of existing thermal power in India, and up to half the price of new coal-fired power. We have seen that the margins have shrunk in the last three years for solar project developers. Earlier equity…