Cost of renewable energy versus fossil fuels worldwide 2017-2023 with a 2028 forecast

Published by Statista Research Department, Jul 25, 2024

As of 2017, fossil gas was the cheapest source of energy at 60 U.S. dollars (USD) per megawatt hour (MWh). This price steadily increased, reaching 90 USD/MWh as of 2023, making fossil gas the most expensive option for energy. While solar energy was priced at 102 USD/MWh in 2017, the price is forecasted to reach 35 USD/MWh in 2025, lowering again to 25 USD/MWh by 2028.

Cost of renewable energy versus fossil fuels worldwide from 2017 to 2023 with a forecast for 2028, by energy type (in U.S. dollars per MWh)

© Statista 2024
Download
Show detailed source information?
Register for free
Already a member?
Log in
Source

Use Ask Statista Research Service

Supplementary notes

*Forecasted figures based on faster learning rate.

Levelized cost of energy

Citation formats
Use Statista now: unlimited access to all content

Statistics on " Global renewable energy industry "

The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics

Other statistics that may interest you Global renewable energy industry

Overview

7

Capacity

7

Generation

5

Consumption

5

Companies

7

Investment

6

Further Content: You might find this interesting as well

Topics

Renewable energy in MalaysiaAutomotive Industry in MalaysiaPalm oil industry in MalaysiaOil and gas industry in Malaysia
Use Statista now: unlimited access to all content
Learn more about how Statista can support your business.
Menu