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India is the producer of world’s cheapest solar energy.

One of the most famous and highly used form of alternative renewable source of energy is the energy derived from the sun's rays. Its easily accessible and found in abundance. 

According to an International Renewable Energy Agency (IREA) India among other countries around the globe is producing the cheapest solar power .

India exports cheap solar panels from China. There is ample amount of available land along with cheap labour. These factors lead to a fall in the overall production cost of solar energy in Indian by 27% in 2018.

Indias solar energy production cost related to hardware mainly consists of racking and mounting which makes 50% of the total cost and the remaining is covered by software as system design and financing .

The fall in the prices of solar power has increased its demand among the Asian countries by 55% globally. Asian countries last year has increased its capacity by 94 gigawatts.

India is lagging behind China as it produces 44 gigawatts of solar power which is 5 times of Indian production. Right behind are other countries like USA, Japan, Germany and Australia.

“Through its compelling business case, renewable energy has established itself as the technology of choice for new power generation capacity,” said Adnan Amin, former director general of IRENA.

“The strong growth in 2018 continues the remarkable trend of the last five years, which reflects an ongoing shift towards renewable power as the driver of global energy transformation.”

Many developed countries around the globe such as European countries, North America are high consumers of renewable clean source of energy. But many under developed and developing countries of Asia are still dependent on fossil fuel as their prime source of energy .

But with the fall in prices studies have showed that more and more Asian countries are shifting towards clean energy contributing towards a green environment .
India is the producer of world’s cheapest solar energy. India is the producer of world’s cheapest solar energy. Reviewed by Tim on August 31, 2019 Rating: 5

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