India is emerging as a front runner in the global fight against climate change, the World Bank has said, noting that the solar power is gradually displacing coal as an energy source in the Asian country.
“With a sweeping commitment to solar power, innovative solutions and energy efficiency initiatives to supply its people with 24×7 electricity by 2030, India is emerging as a front runner in the global fight against climate change,” the World Bank said in a news report published on Friday.
According to the bank, with its conscious choice to use significantly more clean energy to fuel its growth, India is contributing to global efforts to save the planet from the effects of climate change.
Just a few weeks ago, the country also walked away from plans to install nearly 14 GW of coal-fired power plants, largely because it is as affordable now to generate electricity with solar power as it is to use fossil fuels, the report said, praising the Indian move in this regard.
“In India and beyond, solar power is starting to displace coal as an energy source,” the bank said, adding that the cost of electricity from solar photovoltaic (PV) is currently a quarter of what it was in 2009 and is set to fall another 66 per cent by 2040.
With nearly 300 days of sunshine every year, India has among the best conditions in the world to capture and use solar energy, it noted.