Late year 2015, India announced that they believe solar will be cheaper than coal by 10% for the next five years considering the country houses 6 out of 10 of the most polluted cities in the world.
It is notable that solar and renewable energy sources are highly important in reducing air pollution but switching from non-renewables to renewables is really crucial.
Money is always the key factor and we should consider the question on what is beneficial between building a solar grid that is expensive versus maintaining a coal-fired power plant.
But with the downfall of capital cost of 60% in the past four years, the Deutsche Bank even concluded that solar could overthrow coal by 2020.
Record shows in January, solar prices dropped to 4.34 rupees/Kwh and current coal prices average to 3-5 rupees/Kwh and with these stats, India expects to deploy 100 Gigawatts of renewable power by 2022. That means, One GW of solar can power up to 750,000 homes, equivalent to two coal-fired power plants.
India energy minister Piyush Goyal remarks that there are challenges to 24/7 power but they are able to come up with a solar-based long term vision which is not subsidy based.
India is planning to supply help also to developing countries with their expertise in developing clean energy plans that is absolutely no fee.
“India should stop following the world and now is destined to lead the world as champion for underdeveloped, clean tech and clean energy,” added Goyal.