China’s electricity price on a solar deal for Inner Mongolia plunged 44 percent last year. In India, prices to supply wind energy dropped to a record low in October. And Japan last week cut its solar-industry support by as much as 28 percent.
In all three cases, the government had adopted an auction system to determine how much it would pay developers. Across Asia competitive bidding is making the difference, accelerating a renewables boom sparked by already tumbling prices for solar panels and wind turbines.
