The Sunny Side of Asia Report

Current Context: The recently released report titled, “The Sunny Side of Asia”, observed that in the first half (Jan-Jun) of 2022, India saved USD 4.2 billion in fuel costs by utilizing solar energy.

• According to the report along with saving INR 4.2 billion in fuel costs, India also avoided the utilization of 19.4 million tons of coal.
• It mentioned that the top 10 nations with the highest solar capacity in the world included 5 Asian countries:

1. China (1st)
2. Japan (3rd)
3. India (5th)
4. South Korea (8th)
5. Vietnam (9th)

• It further analyzed the 7 Asian countries viz. China, Japan, India, South Korea, Vietnam, Thailand, and the Philippines, save USD 34 billion in fuel costs by utilizing solar energy in the first half (Jan-Jun) of 2022.
• The report suggested the growth in the solar power sector for the 5 Asian economies viz. China, Japan, India, Indonesia, and the Philippines, to be 22% per year until 2030.
• The report was jointly released by the Institute for Energy Economics and Financial Analysis (IEEFA), an energy think tank Ember, and the Centre for Research on Energy and Clean Air (CREA).

Question:

Q.1 According to the recently released “The Sunny Side of Asia” report, India saved _____ in fuel costs by utilizing solar energy in the first half of 2022.
a. $4.2 billion
b. $4.4 billion
c. $4.6 billion
d. $4.8 billion