India climbs to 3rd spot on EY index on impressive show by solar PV segment

India has moved a notch higher at the third spot on EY's Renewable Energy Country Attractiveness Index due to an exceptional performance on the solar photovoltaic (PV) front.
Also, India's solar sector is expected to grow significantly post the pandemic, with generation from solar PV forecast to exceed coal before 2040, EY said in a statement.
This dramatic change has been driven by the Indian government's policy ambitions, which has led solar PV to be the most cost competitive source of power in the region and improving further with time, it added.