India's Lowest Solar-Plus-Storage Price Set in Madhya Pradesh

Madhya Pradesh, a central Indian state, has achieved India's lowest-ever price for solar power procurement coupled with battery storage, according to Reuters. This record was set during a clean energy auction where CEIGALL India and ACME Solar secured tenders with bids of ₹2.70 per kilowatt-hour (kWh) and ₹2.764 per kWh, respectively. This unprecedented low cost signifies a major advancement for India's renewable energy sector, reflecting heightened competition and the growing integration of storage technology. A state official indicated that this development could serve as a model for other states, proving that renewable energy with storage can be more cost-effective than coal. This focus on enhancing grid stability and reliability through hybrid solutions aligns with India's objective of increasing its non-fossil fuel capacity to 500 GW by 2030. The implications for the industry suggest a growing cost-competitiveness of renewables, potentially accelerating the shift away from fossil fuels and fostering new opportunities for storage providers and developers.