Study: Levelized Cost of Electricity for Renewable Energy and Conventional Power Plants - Wind and PV Clearly Advantageous

The updated study from the Fraunhofer Institute for Solar Energy Systems ISE analyzes the levelized cost of electricity (LCOE) for various energy sources in Germany.

Onshore wind turbines, with costs ranging from 4.3 to 6.9 € cents/kWh, and utility-scale PV systems, with costs ranging from 4.1 to 9.2 € cents/kWh, are the most cost-effective among all types of power plants.

Offshore wind turbines have LCOEs between 5.5 and 10.3 € cents/kWh. In comparison, the costs for coal-fired, gas turbine, and nuclear power plants are significantly higher, with coal plants ranging from 15.1 to 29.3 € cents/kWh and nuclear plants from 13.6 to 49.0 € cents/kWh.

By 2045, the costs for renewable energies are expected to decrease further, with wind and PV systems benefiting the most.

Here you find the Announcement at Fraunhofer ISE with download link to the study.