The report finds it is unlikely that India – or indeed other countries – will be able to overtake the Gulf region to provide the world’s cheapest solar power in the near term. Recent record-low tariffs in Abu Dhabi, Dubai, Saudi Arabia and Qatar are the result of lower cost of US$ denominated, long-dated financing, major tax concessions and other factors driving prices down in the region, according to the report’s authors Vibhuti Garg, Energy Economist at IEEFA and Jyoti Gulia, JMK Research Founder and Shilpi Jain, JMK Research Director. Indian policy makers want developers to achieve tariffs on a par with those discovered in the Gulf bids, but such low tariffs are neither achievable nor sustainable in India under the current conditions.

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