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Cost of Renewable Energy in India Lowest in the Asia Pacific, Says Report
July 30, 2019
According to a new report by consultancy Wood Mackenzie, the cost of renewable cost in India is the lowest in the Asia Pacific. It said that the cost of electricity (LCOE) using solar photovoltaic has dropped to 38 USD per megawatt-hour this year. This has thus become the cheapest source of power generation as it’s 14% cheaper than the current cheapest option which is coal-fired power.
Research director at WoodMac, Alex Whitworth said with the total installed power capacity of 421 gigawatts (GW), India has become the second-largest power market in the entire Asia Pacific.
India looks to have 175 GW of power capacity based on renewable resources of energy by 2022.
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