Solar electricity prices hit a record low recently (Solar shines bright in India, hits record low price of ₹2.97/unit!). Now, wind electricity prices are following in solar’s footsteps with tariffs falling to a record low of ₹3.46/unit. “After solar cost reduction below ₹3/unit, wind power cost down to ₹3.46/unit through transparent auction. A green future awaits India,” said Piyush Goyal, minister for power, coal, mines and new and renewable energy, in a tweet.
Key points to note about the wind electricity prices:
- Firstly, Solar Energy Corporation of India floated a 1 GW tender for Wind Energy projects
- Mytrah Energy, Green Infra, Ostro Kutch Wind, Inox Wind bid a power tariff of ₹3.46 per unit to win wind power contracts for 250 MW each
- The price is better than the previous best price of around ₹4/unit for electricity from wind
- This is primarily due to cost of wind turbine generators falling by 20% over the past five years
- Finally, the price is competitive to the average cost of around ₹3/unit for electricity supplied by NTPC from coal-fired plants
Indian rooftop owners have more to gain from decentralized rooftop solar plants. Utilizing empty rooftops to tap the Sun’s power at your home or office can help reduce your electricity bill for the next 25 years. It also reduces dependence on polluting sources, such as coal, keeping our environment clean.
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