Indian Economy News

India, China lead global solar power expansion amid falling costs

New Delhi: With reduction in costs of development of new large projects, India and China are leading the expansion of solar power in the world. Overall, solar power's role in electricity generation along with storage, wind and hydroelectricity has increased over the past few years, according to Institute for Energy Economics and Financial Analysis. Currently, the largest operational solar power projects are concentrated in India and China. New solar power capacity added in China increased 31 per cent year-on-year in 2017 to 53 GW. Overall, 98 GW of solar capacity was added in the last year.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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