One day after GTM Research and Bridge to India published a report concluding that India is on its way to being a global solar leader, Lanco Solar CEO V. Saibaba confirmed the progression of solar in India, giving his forecast on the dropping costs of solar in the country. According to Clean Technica, Saibaba commented that by 2015 he thinks the costs of solar power in India could come down 40% from current prices, making solar in the country a cost-competitive energy source. Saibaba noted that as the Indian solar market continues its evolution, the kilowatt-hour of power could reach 7 to 8 rupees a unit, compared to the current 11 to 12 rupees.
”The most important thing is the economics of scale are coming,” Saibaba told Reuters on the sidelines of a solar industry conference. “In the next three to four years, I see the solar power costs coming down to 7 to 8 rupees a unit. Given the current scenario with the way it is growing and the way costs are coming down, our industry will probably not require any financial support from the state going forward in maybe three to four years,” Saibaba concluded.
