India could benefit from China’s halt on solar

By Sophie Chapman
The world’s largest solar power market, China, has announced a halt on new solar energy projects.

The world’s largest solar power market, China, has announced a halt on new solar energy projects.

India, which has set the target of reaching 100GW of solar capacity by 2022, could reap the benefits of this news, Quartz reported.

The country currently has a total solar capacity of 22GW.

With China to slow its solar industry, this could lead to the global cost of solar panels dropping.

India imports almost 90% of the solar panels it uses, the majority of which are from China.

SEE ALSO:

“If they (China) are holding back, that means their manufacturing capacity would be available for the global market, which will have an impact on reducing cost, commented Cleantech Partner at PwC, Amit Kumar, Quartz noted.

“If the availability (of panels) is increased and costs come down, tariffs will come down and it is a positive sign.”

Last year, solar projects accounted for almost 40% of new energy generation capacity added in India.

The nation has also seen a drop in solar power tariffs, reaching record lows – solar has becomes cheaper than coal-based power.

The recent ReNew Power acquisition of Ostro is also anticipated to make the sector more efficient and increase the speed of operations.

Share

Featured Articles

Shell invests in Qatar LNG North Field East project

Shell buys 25% stake in Qatar LNG North Field East expansion project which will have capacity of 32mn tonnes a year

Gas-led recession a 'near certainty' in Europe

Centre for Economics and Business Research estimates the risk of a recession in Europe this winter at approximately 40%

ABB scoops global energy automation technology award

ABB excels in innovating subsea systems and electrification services and providing underwater control solutions according to Frost & Sullivan

INEOS Köln awarded €770,000 for green hydrogen study

Renewable Energy

UK receives £2.7bn upfront funding to boost grid capacity

Utilities

Poland and Germany best placed for gas-to-coal switch

Oil & Gas