"Dramatic cost declines in solar power tenders in India have shaken up expectations on pricing for the renewable fuel and have triggered warnings that the country's need for thermal coal imports will be much lower than some are banking on.
Huge solar power contracts awarded by Indian states to global players in November and December have been priced at levels more than 20 per cent below 12 months ago and point to solar power rapidly overtaking thermal coal imports in competitiveness for power generation.
The figures signal that forecasts for growth in thethermal coal trading market by the International Energy Agency are too bullish even though they were cut back in December, according to Tim Buckley, director of energy finance studies at the Institute for Energy Economics and Financial Analysis, which supports renewable energy."
Angela Macdonald-Smith reports for the Sydney Morning Herald January 4, 2016.
SEE ALSO:
"Electrifying India, With the Sun and Small Loans" (New York Times)
"India Boosts Solar-Rooftop Subsidy Eightfold Through 2020" (Bloomberg)
"India's Solar Surge May Slash Coal Imports"
Source: Sydney Morning Herald, 01/04/2016
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