India’s solar industry is extremely price-sensitive, where the difference of a single penny can make a difference. Over 16 GW of solar projects were auctioned in 2019, and the lowest discovered tariff in these auctions was ₹2.48 (~$0.0329)/kWh a 1.6% increase compared to the lowest tariff in 2018 of ₹2.44 (~$0.0324)/kWh. Since the imposition of safeguard duty in July 2018, the lowest tariffs have trended upward.