CURRENT AFFAIRS

Detailed explanation-1: -Renewables meet over 60% of India’s growth in demand for power. They account for 35% of the electricity mix by 2030. Solar PV alone accounts for over 15%, the analysis said. It added coal will still meet a third of overall energy demand growth by 2030 for India.

Detailed explanation-2: -When the National Solar Mission was launched in 2010, the cost of solar power was INR 17 per unit in comparison to a latest bid of INR 2.44 per unit. This has been made possible by competitive tariff-based bidding that SECI, State and Central Government have undertaken through tenders.

Detailed explanation-3: -In order to keep its global commitments to source half its energy from non-fossil fuel sources by 2030, India must instal 500 GW of capacity at a cost of ₹2.44 lakh crore, according to a new plan report.

Detailed explanation-4: -According to the IEA’s World Energy Outlook and other research projects, solar and wind energy have continued to occupy the top spots in terms of the cheapest renewable energy sources. Both energy sources cost significantly less than fossil fuel alternatives and continue to become more affordable every year.