Renewables have become the lowest-cost source of power generation. By 2030, the global weighted average levelized cost of electricity (LCOE) for solar photovoltaics is expected to have a 58 percent reduction from 2018. The other cost-competitive source of renewable energy was offshore wind with its technological improvements in recent years.
Development of renewable energy generation costs worldwide between 2018 and 2030, by source
Characteristic
Reduction in costs
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IRENA. (April 15, 2020). Development of renewable energy generation costs worldwide between 2018 and 2030, by source [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1200630/renewables-cost-reduction-by-source/
IRENA. "Development of renewable energy generation costs worldwide between 2018 and 2030, by source ." Chart. April 15, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1200630/renewables-cost-reduction-by-source/
IRENA. (2020). Development of renewable energy generation costs worldwide between 2018 and 2030, by source . Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1200630/renewables-cost-reduction-by-source/
IRENA. "Development of Renewable Energy Generation Costs Worldwide between 2018 and 2030, by Source ." Statista, Statista Inc., 15 Apr 2020, https://www.statista.com/statistics/1200630/renewables-cost-reduction-by-source/
IRENA, Development of renewable energy generation costs worldwide between 2018 and 2030, by source Statista, https://www.statista.com/statistics/1200630/renewables-cost-reduction-by-source/ (last visited July 22, 2024)
Development of renewable energy generation costs worldwide between 2018 and 2030, by source [Graph], IRENA, April 15, 2020. [Online]. Available: https://www.statista.com/statistics/1200630/renewables-cost-reduction-by-source/