Cheaper solar sparks change in energy use

State governments cancelling coal power projects of 13 Gw indicate shift, says IEEFA report

Various state governments have, in recent times, cancelled nearly 13 Gw of coal power projects. This has happened, according to the IEEFA, because of a record low rate for solar power at Rs 2.44 per unit ($0.038 per per kWh).

“For the first time, solar is cheaper than coal in India and the implications this has for transforming global energy markets is profound,” said Tim Buckley, director of Energy Finance Studies, Australasia, at IEEFA.

Uttar Pradesh has cancelled bid for projects with capacity of 3.8 Gw and Odisha for 7 Gw. Gujarat has shelved plans for a 4,000-Mw ultra-mega power