Business Standard

India, China lead solar power expansion as cost of building projects falls

The world's largest operating utility-scale solar projects are concentrated in China and India, according to IEEFA

Chisaki Watanabe | Bloomberg 

solar power
solar power

and China are driving a rapid global expansion in large-scale, developments as the cost of building new projects falls, according to an analysis by Institute for Energy Economics and Financial Analysis.

is taking an increasingly prominent role in driving the ongoing transformation of global generation markets alongside gains in storage, wind, hydroelectricity and energy efficiency,” IEEFA said in a report.

The world’s largest operating utility-scale solar projects are concentrated in China and India, according to IEEFA.

China added 53 gigawatts of the 98 gigawatts of new solar capacity built last year, a 31 percent increase from the total 2016, IEEFA said, citing Bloomberg New Energy Finance data. Meanwhile, the per unit cost of over the life of a generating asset fell 15 percent year-on-year to $86 a megawatt hour.

First Published: Tue, May 22 2018. 09:17 IST
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