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

Chevron’s hydrogen investment and green energy endeavours

President of Chevron New Energies Jeff Gustavson comments on its hydrogen input and further renewable energy exploits to come from the leading energy firm

Honeywell debunks hydrogen energy and its global challenges

Maya Gomez, Director of Green H2 CCM at Honeywell, uncovers the different types of hydrogen and the challenges of applying them for more sustainable energy

ABB Motion & WindESCo partner to strengthen wind energy

ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions

Shell Energy UK and Germany acquired by Octopus Energy

Utilities

Sustainability LIVE links to energy and electrification

Sustainability

Green energy: A hot topic at Sustainability LIVE 2023

Sustainability