World’s Cheapest Renewables Will Aid India’s Push to Net Zero
- Modi pledges more renewables by 2030 en route to net zero
- India has lowest solar and second-lowest wind cost, BNEF says
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India has an ace up its sleeve to help reach its surprising announcement to zero out emissions by 2070: some of the world’s cheapest renewable power.
Abundant land, cheap labor and reliable sunshine and breezes make India home to the lowest-cost solar power and second-lowest onshore wind among 54 countries covered by BloombergNEF’s analysis of levelized costs of electricity. The South Asian nation is forecast to be the third-biggest installer of new solar capacity this year, and number four for wind.