RollingThunder
Gold Member
- Mar 22, 2010
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Here's another jolt of reality for the anti-environmental loons and fossil fuel industry stooges.
Solar Cheaper Than Diesel Making Indias Mittal Believer: Energy
By Natalie Obiko Pearson
Bloomberg
Jan 24, 2012
(excerpts)
India is producing power from solar cells more cheaply than by burning diesel for the first time, spurring billionaire Sunil Mittal and Coca-Cola Co. (KO)s mango supplier to jettison the fuel in favor of photovoltaic panels. The cost of solar energy in India declined by 28 percent since December 2010, according to Bloomberg New Energy Finance. The cause was a 51 percent drop in panel prices last year as the worlds 10 largest manufacturers, led by Chinas Suntech Power Holdings Co. (STP), doubled output capacity.
Solar is going mainstream in India, helped by Chinese pricing, said Ardeshir Contractor, founder of developer Kiran Energy Solar Power Pvt. Kiran, whose investors include Bessemer Venture Partners, an early financier of Skype Technologies SA, won one of the largest projects auctioned by India last month. India joins pockets of Italy, Spain and Hawaii where rising fuel costs and lower panel prices make solar pay for itself without state subsidies, New Energy Finance data show.
India, the third-biggest energy user behind China and the U.S., has a goal to have installed 20,000 megawatts of solar- energy capacity by 2022, about equal to 18 new nuclear reactors. That target is 10 percent of todays total generating capacity including all energy sources. Less than 1 percent of that current power base is solar. Indias solar industry has benefited from tax breaks and a guaranteed government buyer of its cleaner power. Diesel generation has been helped by state subsidies that make the fuel cost less than the market price to cap inflation. The diesel price set for the capital Delhi was at 32 percent below the market rate as of Jan. 16, according to market data published by the nations Oil Ministry.
Solar Cheaper Than Diesel Making Indias Mittal Believer: Energy
By Natalie Obiko Pearson
Bloomberg
Jan 24, 2012
(excerpts)
India is producing power from solar cells more cheaply than by burning diesel for the first time, spurring billionaire Sunil Mittal and Coca-Cola Co. (KO)s mango supplier to jettison the fuel in favor of photovoltaic panels. The cost of solar energy in India declined by 28 percent since December 2010, according to Bloomberg New Energy Finance. The cause was a 51 percent drop in panel prices last year as the worlds 10 largest manufacturers, led by Chinas Suntech Power Holdings Co. (STP), doubled output capacity.
Solar is going mainstream in India, helped by Chinese pricing, said Ardeshir Contractor, founder of developer Kiran Energy Solar Power Pvt. Kiran, whose investors include Bessemer Venture Partners, an early financier of Skype Technologies SA, won one of the largest projects auctioned by India last month. India joins pockets of Italy, Spain and Hawaii where rising fuel costs and lower panel prices make solar pay for itself without state subsidies, New Energy Finance data show.
India, the third-biggest energy user behind China and the U.S., has a goal to have installed 20,000 megawatts of solar- energy capacity by 2022, about equal to 18 new nuclear reactors. That target is 10 percent of todays total generating capacity including all energy sources. Less than 1 percent of that current power base is solar. Indias solar industry has benefited from tax breaks and a guaranteed government buyer of its cleaner power. Diesel generation has been helped by state subsidies that make the fuel cost less than the market price to cap inflation. The diesel price set for the capital Delhi was at 32 percent below the market rate as of Jan. 16, according to market data published by the nations Oil Ministry.
