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Development of renewable energy generation costs worldwide between 2018 and 2030, by source

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Source

Release date

April 2020

Region

Worldwide

Survey time period

2018

Special properties

based on G20 country weighted averages LCOEs

Supplementary notes

Levelized cost of electricity (LCOE) is a measure of the average cost of electricity generation for a plant during its lifetime.

Citation formats

Global renewable energy cost reduction 2018-2030, by source

Published by ÌÇÐÄÆƽâ°æ Research Department, Feb 2, 2021

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 ** percent reduction from 2018. The other cost-competitive source of renewable energy was offshore wind with its technological improvements in recent years.

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