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    Home»Commodities»Price of Solar Plus Battery Hits Record Low in Indian Tender – BNN Bloomberg
    Commodities

    Price of Solar Plus Battery Hits Record Low in Indian Tender – BNN Bloomberg

    July 18, 20241 Min Read


    (Bloomberg) — A developer in India has bid the lowest price to date to build solar plus battery capacity in the country. 

    Pace Digitek Infra Pvt Ltd quoted 3.41 rupees ($0.04) per unit to develop 100 MW as part of a larger project of grid-connected solar energy, plus 600MW of storage. 

    Cheaper modules and falling battery prices, combined with improved solar manufacturing capacity in the country, likely encouraged the developer to offer such a low tariff, said Vibhuti Garg, South Asia director at the Institute for Energy Economics and Financial Analysis (IEEFA).

    The tender mandated the use of domestically produced equipment, a protectionist measure the government has been pushing to reduce India’s reliance on Chinese manufacturers.

    The deployment at scale of battery storage, still at a nascent state in India, is key to achieving the nation’s goal of reaching 500 gigawatts of non-fossil fuels capacity by the end of the decade. That would help meet growing power demand, which the government is currently planning to tackle by expanding coal capacity. 

    ©2024 Bloomberg L.P.



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