Friday, June 16, 2017

Solar Power was once so expensive that it was only used in space ships and satellites


Solar Power was once so expensive that it was only used in space ships and satellites. Now things have taken a U -turn. Bloomberg New Energy Finance outlook concludes that solar power is now becoming cost competitive and may soon be more popular in developed markets like Germany and US. Even in India and China things will turn sooner than projected earlier. India’s solar power prices may be set to fall below those of thermal (coal) energy. This is based on an expected cost of around Rs2.90 per unit for the solar power projects at Bhadla in Rajasthan that have received 51 bids. This price is less than the average rate of power generated by the coal-fuelled projects of India’s largest power generation utility, NTPC Ltd, at Rs3.20 per unit. State-run Solar Energy Corporation of India (SECI), which is running the bid process for 750 megawatt (MW) of solar power capacity at two parks, has received bids totalling 8,750 MW. The bidders include some first-time participants in India, such as Saudi Arabia’s Alfanar.
http://www.wikio.co.uk