Sunday, December 1, 2019

Renewable energy is now the cheapest source of power generation in some countries

Breakdown of utility-scale solar PV total installed costs in G20 countries, 2018
         Source: IRENA, 2019

Released just before UNFCCC's COP25 IRENA's report reveals the latest cost trends for each of the main renewable power generation technologies.

The report finds that the global weighted-average cost of electricity declined 26% year-on-year for concentrated solar power (CSP), followed by bioenergy (-14%), solar photovoltaic (PV) and onshore wind (both -13%), hydropower (-12%), geothermal and offshore wind (both -1%). 
Along with reviewing cost trends, the report analyses cost components in detail based on analysis  of around 17 000 renewable power generation projects.
Source:  Renewable Power Generation Costs in 2018 , IRENA, 2019