India expects to become a major solar energy producer , potentially delivering 100GW of solar power by 2022 . Solar energy prices hit a new record low in January with the auction of 420 megawatts in Rajasthan at 4.34 rupees a kilowatt-hour. In the past financial year , 20GW of solar capacity has been approved by the Indian Government , with 14GW planned through 2016 . According to a Deutsche Bank report , capital costs for energy have dropped 60 % in past years and the bank predicts that solar power could overtake coal by 2020 . This sentiment was mirrored by India 's energy minister , Piyush Goyal , who commented that solar has effectively become cheaper than coal . However , investment and growth of renewable energy is a delicate discussion between the rich and developing countries and Goyal also said that he expected to gain more support for an Indian - global solar alliance in New York this week during the signing of the Paris Agreement .
India expects to become a major solar energy producer , potentially delivering 100GW of solar power by 2022 . In the past financial year , 20GW of solar capacity has been approved by the Indian Government , with 14GW planned through 2016 . According to a Deutsche Bank report , capital costs for energy have dropped 60 % in past years and the bank predicts that solar power could overtake coal by 2020 . This sentiment was mirrored by India 's energy minister , Piyush Goyal , who commented that solar has effectively become cheaper than coal . However , investment and growth of renewable energy is a delicate discussion between the rich and developing countries and Goyal also said that he expected to gain more support for an Indian - global solar alliance in New York this week during the signing of the Paris Agreement .