Updated By: LatestGKGS Desk
IEA predicts India's renewable energy capacity to Double by 2022 details
India's renewable energy capacity to Double by 2022 beat renewable expansion in the European Union
India’s renewable energy capacity will more than double which would be enough to beat renewable expansion in the European Union for the first time by 2022 According to the International Energy Agency (IEA) report.
The Country’s renewable energy installed capacity is 58.30 GW as per the recent government data.
The government has an amorous target of raising it to 175 GW by 2022 including 100 GW of solar and 60 GW of wind energy.
International Energy Agency (IEA) in its latest renewable market analysis and forecast that the solar PV and wind together represent 90 percent of India's capacity growth as auction yielded some of the world’s lowest prices for both technologies.
Previous, the solar and wind power tariffs dropped to the all-time low of Rs. 2.44 per unit and Rs. 3.46 per unit in traffic based competitive bidding conducted by Solar Energy Corporation of India (SECI).
India’s move to address the financial health of its utilities and tackle grid-integration issue drive a more optimistic forecast, reported by IEA.
