Title: The Falling Cost of Renewable Energy
Language: English
Type: Blog/Article
Nature: Website
Published: October 29, 2021
Region: Global
Country: Global / Non-Specific
Sector: Energy and Power
Keywords: Age of Disruption, Renewable Energy
Document Link(s):
Document Summary:
The world is still a long way from producing all of its required electricity via renewable sources, but figures covered by Our World in Data reveal that at least when it comes to cost, things are certainly moving in the right direction.
Document Details:
In 2010, a megawatt hour of electricity gleaned from solar photovoltaic cost a global average $378 to generate. That's without the effect of any subsidies which may have been applicable in some areas. By 2019, that cost had tumbled down to just $68 - cheaper than nuclear and coal and only a little behind the most economically efficient option looked at in this chart - onshore wind. Wind energy, both onshore and offshore, has also seen decreases in costs since 2010, while the more established methods of nuclear and coal have either increased in price or seen only a slight drop.
Updated: December 28, 2023