Cost Reduction Brings Increasing Competitiveness of Renewables

Technological improvements, economy of scale and aggressive market competitions continue to deliver on lowering the LCOE of renewables.

The global renewable energy industry has grown significantly since 2010, enabling widespread achievement of cost reductions and lowering the levelized cost of electricity (LCOE) for renewable technologies. Although regional variability in LCOE for wind and solar will persist, the lowering of costs continues to improve the competitiveness of renewable technologies globally relative to fossil fuel-based power generation. As costs have declined for renewables, the added cost of environmental regulations and declining load factors have reduced the cost effectiveness of fossil fuel technologies despite record low fuel prices. The LCOE of... ... More: Official Press Release MAKE

Keywords:

MAKE, prices, renewable, competitiveness