Solar Power with Storage Now Cheaper than New Thermal Power Plants in India

India is shifting towards renewable energy, with solar power becoming the more affordable option for round-the-clock electricity supply. A recent study by The Energy and Resources Institute (TERI) found that solar power with storage is cheaper than new thermal power plants in the country. The study analyzed the cost implications of using Battery Energy Storage Systems (BESS) and Pumped Storage Plants (PSP) for meeting peak demand, with results showing that solar power combined with storage can supply electricity at a cost of é 3.9-é 4.3 per kWh, compared to é 5.4-é 5.8 per kWh for new thermal power plants.

Key Takeaways:

• The cost of solar power with storage ranges from é 3.9-é 4.3 per kWh, compared to é 5.4-é 5.8 per kWh for new thermal power plants.
• The study analyzed the cost implications of using Battery Energy Storage Systems (BESS) and Pumped Storage Plants (PSP) for round-the-clock electricity supply.
• The results show that solar power combined with storage can meet peak demand at a lower cost than new thermal power plants.
• According to experts, solar tariffs have decreased by over 90% in the past decade, making storage the next step towards India's 24x7 green power future.
• The study concluded that solar power with storage is a more affordable and reliable option for round-the-clock electricity supply.

Statistics:

• Solar power with storage costs é 3.9-é 4.3 per kWh, compared to é 5.4-é 5.8 per kWh for new thermal power plants.
• Solar tariffs have decreased by over 90% in the past decade.
• The cost of pumped storage plants is é 4.4-é 4.9 per kWh.

Sources:

• The Energy and Resources Institute (TERI) - "Solar Storage Cheaper than New Thermal"
• TERI press release, October 14, 2017
• TERI website: https://www.teriin.org/policy-brief/solar-storage-cheaper-new-thermal