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India Achieves The Lowest Cost Producer Tag of Solar Power Globally

India is now the lowest-cost producer of solar power globally, according to a report by the International Renewable Energy Agency (IRENA).

According to experts, India’s status of lowest-cost producer of solar power has multiple reasons. India has high solar potential that leads to improved asset utilization and the country imports majority of hardware for installation from China which is cheaper and helps cut the cost by a huge margin. Also, the cost of land and labor is cheaper than the rest of the world, it also contributes to low-cost production of solar power in India.

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