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No Stopping Good Business

  • Date : 06/06/2017
  • Source : The Hindu Business

The real solution to climate change mitigation is to get the action anchored in good economics,which is happening. The fight against global warming is happening because it is good business, not by the force of the Paris Agreement. As is seen all over the world, renewable energy prices have fallen drastically and are set to fall further,winning over fossil fuels. It costs Infosys only Rs.2.85 to produce a kWhr of electricity from a solar plant of its in Andhra Pradesh. In Karnataka, energy companies such as CleanMax Solar have begun selling solar power at prices between Rs.4 and 5, and consumers are lapping it up. India has cancelled 13.7 GW of coal plants because renewable energy is cheaper than coal, especially if all coal is costed realistically.