Solar, not coal, is India's future by 2030: Report

BNEF report says China and India present a $4-trillion opportunity in the energy market

India will add more than 40 gigawatt (Gw) of coal-based power over the next five years amid stagnant growth in the sector, according to a new report by Bloomberg New Energy Finance (BNEF).

However, from 2030, solar would begin to sideline coal in India, with the pace of photovoltaic (PV) additions more than doubling from the 2020s to the 2030s, said the New Energy Outlook-2017 by BNEF.

“We see India’s installed coal power capacity rising from 189 Gw in 2016 to 254 Gw in 2040, even after accounting for retirements of old and inefficient plants. Close to 42 Gw can be commissioned