Fossil Fuel to Solar PV Transition - The Prospects

As recently as year 2011, long term contracts were being finalised for tariff of INR 18 per kWh for Solar PV in India. The recent bid of INR 4.63 per kWh for NTPC 500MW tender proves how far India has travelled in Solar PV in last 4 years. ACWA POWER, a water and power developer based in the Saudi capital Riyadh, won the world�s largest ever solar tender with the cheapest ever price for a large scale solar project� a 260MWp solar PV plant at the Solar Park in Dubai, at a cost of just $US0.058/kwh .With Solar PV competing with non-renewable sources ,this paper tries to analyze the factual position on tariffs & investment in Solar PV viewed with corresponding prospects of fossil fuel industry as per recent developments reported worldwide.