123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Environment >> View Article

Can Solar Power Beat Nuclear Energy Costs?

By Author: Nikhil Mehra
Total Articles: 33

With the Indian Government setting an ambitious goal of tripling nuclear power over the next decade, the country is well poised to double its nuclear power generation capacity to more than 10,000 mega watts (MW) over the next five years.

According to a recent analysis by indiaspend.org, a data-driven non-profit, domestic nuclear power generation has doubled in the last five years and is likely to repeat this performance over the coming five years given the new capacity addition under construction.

With more fuel available, capacity utilisation of nuclear power plants has improved from 50% in 2008-09 to more than 80% now. 

The ongoing surge in nuclear power is a direct payoff of the India-US Civil Nuclear Agreement, which has already delivered clear, tangible gains for India, and will continue to do so in the coming years.

Compared to power plants using fossil fuels, such as coal or gas, nuclear power has high initial costs with the cost of the imported fuel needed to power these reactors pegged at approx INR 330 crore per annum. 

However, fuel costs are a relatively small expense in the course of a nuclear plant’s lifecycle, compared to the significantly lower lifetime costs for nuclear power vis-a-vis conventional sources like coal or gas. The Nuclear Power Corporation in India (NPCIL) supplies electricity at a lower cost per unit than any other public or private energy utility in the country today.

Nuclear power plants currently account for an estimated 3.5% of India’s power generation capacity with its share in India’s future electricity generation likely to less than 10%, even if the existing installed nuclear generation capacity levels are tripled.

However, along with other sources of energy such as hydropower and solar power generation, it will play a role in reducing India’s reliance on fossil fuels like coal for generating electricity.

On the solar energy front, the government has set itself an ambitious target of increasing its solar power generation capacity five-fold to 100 GW by 2020.

Already the prices of solar photovoltaic panels in India has declined by a whopping 80% (from their 2008 levels) even as the efficiency of solar modules has pegged a annual hike in the region of approx 4.5%.

Driven by the growing demand, declining costs and capacity additions by solar IPPs in India, the cost of solar power is expected to equal those of conventional energy tariffs or go even lower to touch an per unit average price in the range of INR 4.00-4.50 over the next two years.

Already there has been a significant reduction in solar power tariffs over the last couple of years with the feed-in-tariffs (FITs), largely due to supportive trends like the improved absorption of fixed costs, declining costs of solar components and lower return expectations fuelled by market maturity, by solar IPPs in India.

Welspun Renewables is guided by its vision to power a Green India and is working towards becoming a fully-integrated power company by setting up renewable energy based power plants.

India is well-placed to achieve its target of 100GW of solar energy by 2022 if it strengthens its transmission grid, lowers financing costs and follows a consistent policy with regard to

Total Views: 121Word Count: 523See All articles From Author

Environment Articles

1. How Solar Energy Works And How You Could Take Advantage From It?
Author: Solar Etribe

2. Battle Of The Solar Manufacturers
Author: Reek

3. An Intro To The Solar Hot Water Heater
Author: Ross Barkely

4. Say Hello To The Highly-efficient Solar On Grid Systems
Author: Solar on Grid Systems

5. Epa To Consider Controlling Polyfluoroalkyl Substances
Author: Environmental Resource Center

6. Solar Products Manufacturers In India
Author: Solar E tribe

7. The Future Of Solar Energy In The India What To Expect
Author: SOLAR eTRIBE

8. Solar Installation Training In India. How To Become One?
Author: SOLAR eTRIBE

9. Looking For Solar Leads? Find A Lead
Author: SolarEtribe

10. How To Choose The Right Solar Energy Leads
Author: Solar e tribe

11. How Can India Become Globally Competitive In Solar Module Manufacturing
Author: Reek

12. FundaciÓn Bioplanet - Lucha Por El Cambio ClimÁtico
Author: FUNDACIÓN BIOPLANET

13. Indoor Air Quality Maintenance – Important Factors To Know
Author: Mark Simon

14. Pest Control In Glasgow By Pest Control Expert Yaser Rashid
Author: Yaser Rashid

15. Radon Mitigation Ottawa – Improving Air Quality To Improve The Atmosphere
Author: Mark Simon

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: