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Topic: Solar power
Mini grids, which use solar power, have become much cheaper than installing long-distance transmission lines from a central grid, making it more accessible to people who need it.
Launching a 750 MW solar project in Madhya Pradesh through video-conferencing, Modi also said the state will emerge as a major hub for clean and cheap power in India.
The economics of renewable energy have been improving fast — especially those of onshore wind and utility-scale solar power.
Though heat from renewable energy is set to increase by 22% by 2024, renewables will only support 12% of global heat consumption compared to the 10% now.
The plan is part of the NTPC’s aim to build 32 gigawatts of renewable capacity by 2032 and reduce the share of fossil fuels in its energy mix from 96% to 70%.
Costs of building large-scale solar installations in India fell by 27 per cent in 2018.
India has failed to jump-start its solar equipment manufacturing sector through tenders and a safeguard duty to protect it from cheaper Chinese imports.
The group, owned by Pallonji Mistry, will sell as much as 30 per cent in the solar engineering arm of Sterling & Wilson
Son also said that power from the projects will be free after the end of the initial 25-year power purchase agreements.
The shift in policy next door is expected to cause a glut in global supplies and thus a fall in prices. With India's high capital cost and corporate taxes, locally made supplies can't compete.
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