Green Building Community

India Ends Plans to Build Coal Power Stations Due to Low Solar Energy Prices

AbbieKnight 0 Ratings 14 Discussions 9 Group posts

Posted by: AbbieKnight

India Ends Plans to Build Coal Power Stations Due to Low Solar Energy Prices

The recent plummet in solar prices has resulted in India cancelling plans to build almost fourteen gigawatts of coal-fired power station. According to Tim Buckley, Director of Energy Finance Studies at The Institute for Energy Economics and Financial Analysis (IEEFA), “For the first time solar energy is cheaper than coal in India and the implications this had for the transforming global energy markets is profound.”
In a recent IEEFA article, Buckley mentions that on May 17, 13.7 GW of planned coal power projects have been cancelled that month. Since the drop in prices, investors from around the world are showing interest in India’s solar sector. Buckley also says, “The caliber of the global financial institutions who are budding into India’s solar power infrastructure tenders is a strong endorsement of India’s leadership in this energy transformation and will have significant ripple effects into other transforming markets, as is already seen in the UAE, South Africa, Australia, Chile, and Mexico.”
According to a study by Greenpeace, the Sierra Club, and CoalSwarm, significant coal capacity in several countries was retired last year, while new plants are not being built at the rate planned, or the same rate. The contraction was described as a “freefall,” with new and preconstruction down 62% in 2016.

For more information: http://bit.ly/2qrsDbe

Reply

 

Please be kind and respectful!

Please make sure to be respectful of the organizations and companies, and other Rate It Green members that make up our community. We welcome praise and advice and even criticism but all posted content and ratings should be constructive in nature. For guidance on what constitutes suitable content on the Rate It Green site, please refer to the User Agreement and Site Rules.

The opinions, comments, ratings and all content posted by member on the Rate It Green website are the comments and opinions of the individual members who posts them only and do not necessarily reflect the views or policies or policies of Rate It Green. Rate It Green Team Members will monitor posted content for unsuitable content, but we also ask for the participation of community members in helping to keep the site a comfortable and open public forum of ideas. Please email all questions and concerns to admin@rateitgreen.com