Solar Power Tariff Hits A Massive Low, Becomes 73% Cheaper Now
India’s renewable energy hit their lowest this may, 2017. With a cut of about 73%, this is the cheapest the renewal energy has cost ever since 2010. Nirmal Singh Lotus G . says that this would favor the solar technology a lot, after the solar tariff cut down to ₹ 2.44/ unit, we can now compare it to the most favored of electricity costing something between ₹ 3 to ₹ 5 per unit. The new solar cost was announced after a reverse auction held by the state owned Solar Energy Corporation of India limited (SECI) at the Bhadla solar park in Rajasthan. Reverse auction, as the name suggests is when the buyer and seller reverse their roles, with the lowest bid winning the auction. According to Nirmal Singh Lotus G ., ever since the Paris conference, countries have grown more conscious about their role towards the environment, hugely profiting the solar sector. The major reasons by the fall in the solar tariffs can be the following: • The increased production of the solar pan