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India solar prices set to drop amid competition, lower costs

As much as 25 gigawatts of solar capacity could be awarded through auctions this year globally

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"We feel interest rates will go down and the cost of solar panels will fall, so these will have a great effect on breaching the four rupees a unit-mark," said Hero Future's Mr Munjal.

New Delhi

THE price paid for solar power in India at auction is set to fall below last year's record lows for the South Asia nation, driven by plummeting panel prices, falling interest rates and competition among developers seeking a slice of the country's renewables market.

Prices

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