Solar and Wind Cheaper Than Ever

Wind Industry Profile of

Solar, wind and batteries see dramatic gains in competitiveness over the last six months compared to longer-established energy options

Solar PV and onshore wind are now the cheapest sources of new-build generation for at least two-thirds of the global population. Those two-thirds live in locations that comprise 71% of gross domestic product and 85% of energy generation. Battery storage is now the cheapest new-build technology for peaking purposes (up to two-hours of discharge duration) in gas-importing regions, like Europe, China or Japan. The latest analysis by research company BloombergNEF (BNEF) shows that the global benchmark levelized cost of electricity, or LCOE, for onshore wind and utility-scale PV, has fallen 9% and 4% since the second half of 2019 – to... ... More: Official Press Release BloombergNED

Keywords:

BloombgerNEF, solar, wind, battery, costs, price, competitiveness, LCOE, storage