LCOE rises in Asia Pacific

Wind Industry Profile of

China the exception – with offshore wind set to undercut coal power by 2025

The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. The trend is expected to reverse in 2023, but volatility risks including geopolitical tensions, trade policy and financing remain according to latest analysis from Wood Mackenzie.   The average cost of utility solar power has gone up from US$78 per megawatt-hour (MWh) in 2020 to US$91 per MWh in 2022. Onshore wind follows a similar trend, rising from US$93 per MWh in 2020 to US$104 per MWh last year. South Korea saw the highest cost... ... More: Official Press Release Wood Mackenzie

Keywords:

Wood Mackenzie, analysis, China, APAC, region, renewable energy, competitiveness, coal, Asia Pacific, solar, wind, costs, prices, inflation, crisis, LCOE