We’re constantly covering the Indian solar landscape, and one of the key reasons for this is the country’s remarkable growth. Consider the recent developments at the Bhadla Solar Power Park in Rajasthan’s western state. With the prior solar power producing plant, bids for solar energy supply were requested.
The lowest tariff bid, which acted as the benchmark, was 3.15 cents per kWh (i.e. 4.9 cents per kWh). Guess what happened: both of the fresh bids, from Indian and international developers, exceeded that sum. The 250-megawatt auction saw bids valued at 2.62/kWh and 2.63/kWh. Imagine how rapidly the market for solar energy is expanding in India right now, with tariffs falling and production rising. Perhaps this is what gives the Indian administration hope that it will be able to keep its Paris promises.
The most recent bids were 9.2 percent cheaper than the previous lowest bids, and rates are projected to decrease even further as the government launches more ambitious solar projects.
And it’s at this point that the surprise appears. Only two days later, the lowest rate was reduced to $2.44/kWh in a bidding for a 500-megawatt solar project in Andhra Pradesh. So, after two days and two new records, we can only speculate on what’s coming and rejoice in the fact that India is finally on course to achieve 100% electrification.
One aspect of India’s solar narrative that is frequently overlooked in posts about commercial solar is the fact that on-grid rooftop solar is also making a big contribution to the solar energy industry. Individual solar plants built in urban and rural residences contribute power to the grid, lowering the cost of electricity production, benefiting not just the owners, but everyone else as well.
The government is also promoting rooftop solar in an effort to improve energy access in urban and rural regions where power outages are common.
Overall, excellent work. We hope India’s solar energy success continues and the country achieves energy independence soon. Get in touch with our solar experts if you’d like to join the solar train. Click here to register yourself as a solar-preneur.