According to the Economic Survey for 2016-17, India has attained the fourth position globally in terms of installed wind power capacity after China, the US and Germany. A capacity addition of 14.3 GW of grid-connected renewable energy has been reported during the past two and half years. This includes 5.8 GW from solar power, 7.04 GW from wind power, 0.53 GW from small-hydro power and 0.93 GW from biopower. The survey also stated that the plant load factors are exceptionally low, reducing to 59.6 per cent during April to December 2016 as compared to 62 per cent during the corresponding period of the previous year. Further, merchant tariffs for the power purchased in the spot market have decreased to around Rs 2.50 per kWh, far below the breakeven rate of Rs 4 per kWh required for most plants.