IRENA Renewable 2021 Report

…was just released, contains an economic trend, and has some good news for all of us:

The global weighted average levelised cost of electricity (LCOE) of new onshore wind projects added in 2021 fell by 15%, year-on-year, to USD 0.033/kWh, while that of new utility-scale solar PV fell by 13% year-on-year to USD 0.048/kWh and that of offshore wind declined 13% to USD 0.075/kWh. With only one concentrating solar power (CSP) plant commissioned in 2021, the LCOE rose 7% year-on-year to USD 0.114/kWh.

The period 2010 to 2021 has witnessed a seismic improvement in the competitiveness of renewables. The global weighted average LCOE of newly commissioned utility-scale solar PV projects declined by 88% between 2010 and 2021, whilst that of onshore wind fell by 68%, CSP by 68% and offshore wind by 60%.…

1 Like