With some US$100bn of existing and proposed thermal power plants in financial distress, and low cost but variable renewable energy capacity best able to meet the ambitious targets set by government, India has an opportune moment to transform its electricity sector by introducing time-of-day pricing for both producers and consumers.

Karnataka has left behind Tamil Nadu in the renewable energy capacity addition race, surpassing the latter by 1.7 GW as at the end of March 2018, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Karnataka’s renewable capacity has also exceeded its coal-fired capacity by 2.5 GW.

A report published by the Institute for Energy Economics and Financial Analysis describes how solar energy is accelerating the transformation of the global electricity-generation sector through gains in technology innovation and price deflation.

This report examines the rapid electricity market transformation now taking place in India, showing how renewable energy and energy efficiency measures can help the country, soon to be the world’s most populous, avoid the mistakes China made in its dash for coalfired electric generation growth in the first years of this century, but also leverag