Amongst the different sources of renewable electricity generation, concentrating solar power and offshore wind were the most expensive in 2023, with an average cost of 11.7 and 7.5 cents per kilowatt-hour, respectively. In contrast, onshore wind electricity generation cost an average of 3.3 cents per kilowatt-hour that year.
Average renewable electricity generation cost worldwide in 2023, by energy source
(in U.S. cents per kilowatt-hour)
Characteristic
Electricity generation cost in U.S. cents per kilowatt-hour
Adjust the presentation of the statistic and data points.
Share the statistic on social media channels or embed the statistic in your
website using "Embed Code", where available.
Cite this statistic and select one of the following formats: APA, Chicago, Harvard, MLA & Bluebook.
The statistic is available in another language. Switch language.
Print the statistic including description and metadata.
Chart type
Average renewable electricity generation cost worldwide in 2023, by energy source
Share this statistic
You have no right to use this feature.
Make sure to contact us if you are interested in scientific citation.
You can upgrade your account to enable this functionality for all statistics.
This feature is not available with your current account.Request access
Learn more about how Statista can support your business.
IRENA. (September 24, 2024). Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour) [Graph]. In Statista. Retrieved April 21, 2025, from https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA. "Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour)." Chart. September 24, 2024. Statista. Accessed April 21, 2025. https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA. (2024). Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour). Statista. Statista Inc.. Accessed: April 21, 2025. https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA. "Average Renewable Electricity Generation Cost Worldwide in 2023, by Energy Source (in U.S. Cents per Kilowatt-hour)." Statista, Statista Inc., 24 Sep 2024, https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA, Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour) Statista, https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/ (last visited April 21, 2025)
Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour) [Graph], IRENA, September 24, 2024. [Online]. Available: https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
Profit from additional features with an Employee Account
Please create an employee account to be able to mark statistics as favorites.
Then you can access your favorite statistics via the star in the header.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.