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How India is creating the next big solar market

by Harsha Yadav

Source: GreenBiz.com

With nations around the world vying for clean energy leadership, India has taken a bold step toward becoming a leader in solar development. In only two years under India’s ambitious national solar policies, prices for solar energy in India have dropped dramatically, approaching the price of traditional energy from fossil fuels. While the Indian government has a long way to go to reach its goals of 20 gigawatts of solar energy by 2022, India’s experience is a strong example of how national and state policies can unleash the potential of clean energy.

Just last week, NRDC and our partner, the New Delhi-based Council on Energy, Environment and Water (CEEW), released a new report showing how — in just two years — India’s National Solar Mission has transformed the solar market in India. The report, Laying the Foundation for a Bright Future, is the first independent, external analysis that’s been done on the strengths and hurdles faced by India’s solar efforts.

India’s solar numbers are nothing short of impressive: Under the first phase of the project, India’s installed solar capacity jumped from only 17.8 MW to over 500 MW. During that time, solar energy prices dropped to as low as Rs. 7.49/kWh, or $0.15 USD/kWh, faster than most anticipated, as we discuss at the U.S.-India Energy Summit hosted by TERI and Yale University.

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