Cut down in tariff inversely proportionate to efficiency of renewable energy

Power Minister R K Singh on Saturday said that increasing efficiencies in solar and wind energy modules have helped bring down clean energy tariffs. He also expressed hope that the clean energy tariff would further come down.

Earlier this month, solar power tariff dropped to an all-time low of ₹ 2 per unit in an auction conducted by the Solar Energy Corporation of India (SECI).

Under the SECI auction concluded, Saudi Arabian firm Al Joemaih Energy and Water Co and Sembcorp Energy India arm Green Infra Wind Energy Ltd emerged as the lowest bidders by quoting a tariff of ₹ 2 per unit for 200MW and 400MW capacities.
In July this year, solar power tariffs had dropped to a low of ₹ 2.36 per unit in an auction of 2GW capacities by SECI.

“Increasing efficiencies in Solar PV and wind modules is bringing down prices, enhancing affordability and accessibility of energy and supporting better standards of living,” said Power Minister R K Singh while speaking at the Valedictory Session of the 3rd Edition of the Renewable Energy Expo & Conference, RE-INVEST, 2020.

The minister also said that increasing storage and democratizing RE deployment will be the next frontier for the Government of India”.

One Sun One World One Grid is also a strategy that India continues to push for at an international level.

Renewable Energy Secretary Indu Shekhar Chaturvedi said that 3rd RE-INVEST has helped to understand the depth and outcomes of the collective effort involving global stakeholders.