New Delhi, April 6 -- Solar power offers a massive opportunity for steel sector companies to reduce their production costs, with potential savings reaching up to 10 percent for certain operations, said energy think tank Ember in a recent report.

The report highlighted that the greatest benefits are seen in standalone electric arc furnace (EAF) steelmaking, where solar energy can significantly cut operational expenses.

The report added that savings range between 2 and 5 per cent for direct reduced iron arc furnace (DRI-EAF) steel production.

"For direct reduced iron-arc furnace (DRI-EAF) based steelmaking, savings range between 2-5 per cent, while for cement manufacturing, the potential is lower," the report added.

The steel sector alo...