Resource detail

India has emerged as the market leader with the lowest renewable energy cost in Asia Pacific, according to a report by research and consultancy firm Wood Mackenzie. According to the report, India’s LCOE using solar photovoltaic has fallen to USD 38 per MWH in 2019, 14 per cent cheaper than coal-fired power. LCOE represents the average revenue per unit of electricity generated that would be required to recover the costs of building and operating a generating plant during an assumed financial life and duty cycle. Wood Mackenzie research director Mr Alex Whitworth said India is the second-largest power market in Asia Pacific with installed power capacity of 421 GW and solar capacity in the country is expected to reach 38 GW in 2019.