Mahima Gupta 
India is now recorded to have the cheapest Solar System in the world .
A short time ago, solar power was considered a marginal power source. But it is now one of the major drivers behind the transition to greener, more sustainable sustainable energy.
A report by International Renewable Energy Agency revealed that while the cost of solar power production is falling around the world, India recorded a 27% decrease in the prices in 2018.
India also recorded a decline of 80% in the setup costs between 2010 and 2018, maximum in any country.
The costs of building large-
scale solar installations in India fell by 27% year-on-year.
Reports suggest that the cost of large-scale solar installations in India were less than one-third of that of Canada, which had the highest costs for the production of solar energy among all the countries surveyed.
The greater part of the all-out expenses of a solar-based establishment in India is identified with equipment, such as racking and mounting with the rest of delicate costs, for example, framework plan and financing.
1. As prices come down, demand goes up. The expanding global solar sector now accounts for 55% of all new renewable power-generating capacity. Last year, 94 gigawatts of new capacity came online, largely added by Asian countries.
2. China was responsible for 44 gigawatts of all new solar capacity, almost five-times more than India, which followed directly behind. Other rapidly expanding markets include the US,Japan, Australia and Germany.
3. Alongside the rise of solar, other clean energy sources like wind farms and hydro-power are also growing. Renewable energy now generates a third of global power capacity.
4. “Through its compelling business case, renewable energy has established itself as the technology of choice for new power generation capacity,” said Adnan Amin, former director general of IRENA.
5.“The strong growth in 2018 continues the remarkable trend of the last five years, which reflects an ongoing shift towards renewable power as the driver of global energy.
