Astrology

In two years solar energy for residential sector would be cheaper than electricity grid: Solar players

Agency | July 24, 2017 07:46 PM
Punjab Tribune Bureau

New Delhi,  In the next two years, solar power will be cheaper than the electricity grid in the residential sector, says solar energy provider SunSource Energy which on Monday successfully implemented the first two phases of a 100 MW solar project in South East Asia.

Stating that while the solar energy in India has already reached 'grid parity' in commercial, industrial and utility sectors, soon this would be achieved in residential sector as well.

The grid parity happens when the cost of the electricity produced by an alternative source -- solar in this case -- becomes lesser or almost equal to that being supplied from the conventional source e.g coal.

At present, India has installed capacity of 327 GW (One GW is equal to 1000 MW), of which about 40 GW is Solar (12 GW) and Wind energy (27 GW) combined. About 70 per cent of power comes from coal-based power plants and the remaining from hydro and other sources like biogas.

"Solar energy in India has already reached grid parity in the commercial, industrial and utility sectors. In most scenarios, in the next two years solar power would be cheaper than the electricity grid in the residential sector as well," said Adarsh Das, Co-Founder and CEO SunSource Energy.

The solar company has designed and built over 100 solar projects across 18 states in India, with a focus on decentralised power projects. It is currently involved in nearly over 150 MW of solar projects in India and overseas.

Its rooftop projects include the India Habitat Centre.

"Aligning with Prime Minister Narendra Modi's target of 100 GW by 2022, including 40 GW from rooftop and decentralised projects, we are focused on developing, designing and building 400 MW of decentralised solar projects by 2022," said Kushagra Nandan, Co-Founder of SunSource Energy.

Have something to say? Post your comment
Must Read
Shiromani Akali Dal to support NDA’s presidential candidate Draupadi Murmu: Sukhbir Singh Badal
Shiromani Akali Dal to support NDA’s presidential candidate Draupadi Murmu: Sukhbir Singh Badal
Patwari among three held for graft as more complaints pour in on anti corruption action line
Patwari among three held for graft as more complaints pour in on anti corruption action line
Eknath Shinde to be new Chief Minister of Maharashtra, take oath at 7.30 pm today, says-Devendra Fadnavis
Eknath Shinde to be new Chief Minister of Maharashtra, take oath at 7.30 pm today, says-Devendra Fadnavis
Udaipur tailor murder: Protests erupt in part of city under curfew day, CM Ashok Gehlot announces compensation of Rs 50 lakhs with promise of two govt. jobs
Udaipur tailor murder: Protests erupt in part of city under curfew day, CM Ashok Gehlot announces compensation of Rs 50 lakhs with promise of two govt. jobs
Maharashtra political crisis: Eknath Shinde big statement on new government with BJP, workers and BJP leader breaks out into celebration after Thackeray resigns
Maharashtra political crisis: Eknath Shinde big statement on new government with BJP, workers and BJP leader breaks out into celebration after Thackeray resigns
Udaipur: Tailor's gruesome killing a challenge to country's sovereignty, will it be considered a terror attack?
Udaipur: Tailor's gruesome killing a challenge to country's sovereignty, will it be considered a terror attack?
Opposition may pick Yashwant Sinha, who resigns from TMC, as Presidential candidate?
Opposition may pick Yashwant Sinha, who resigns from TMC, as Presidential candidate?
Sangrur by-poll: Arvind Kejriwal, Bhagwant Mann hold roadshow in support of party candidate Gurmail Singh, receives a stupendous response from the people
Sangrur by-poll: Arvind Kejriwal, Bhagwant Mann hold roadshow in support of party candidate Gurmail Singh, receives a stupendous response from the people
Violent protests intensify against Agneepath in UP-Bihar on day 3, several trains set on fire & Highways blocked
Violent protests intensify against Agneepath in UP-Bihar on day 3, several trains set on fire & Highways blocked
Anti-Begging task force rescues 10 children
Anti-Begging task force rescues 10 children
Congress continues to Protest over Rahul Gandhi’s ED probe: 800 workers detained in 3 days, Shashi Tharoor says- “BJP should remember they were not treated this way”
Congress continues to Protest over Rahul Gandhi’s ED probe: 800 workers detained in 3 days, Shashi Tharoor says- “BJP should remember they were not treated this way”
1984 anti-Sikh riots, 4 accused arrested after 38 years
1984 anti-Sikh riots, 4 accused arrested after 38 years