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Innovative financing measures is expected to bring down the cost of solar power to ₹ 4.50 a unit, a drop of over 25 per cent as against the current rates, said the Power, Coal and New & Renewable Energy Minister Piyush Goyal on Tuesday.
“You will see solar power in this country will come down to ₹ 4.5 a unit. It’s not just solar. We are looking at innovative financing solutions and improve the counter party risk to bring down the cost of solar and wind energy,” said Goyal.
The Government has set a target of having 100,000 MW of solar power capacity by 2022.
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