The Cost of Renewable Energy Has Dramatically Decreased – BloombergNEF

The latest BloombergNEF (BNEF) research shows that renewable energy generation has become cheaper. Thus, the benchmark levelized cost of electricity (LCOE) for lithium-ion batteries has fallen 35% since the first half of 2018, for offshore wind – by 24%.

Onshore wind and photovoltaic solar have also gotten cheaper for projects starting construction in early 2019 – down 10% and 18% year-on-year.

Note: BNEF’s database covers nearly 7,000 projects across 20 technologies (including the various types of coal, gas and nuclear generation as well as renewables), situated in 46 countries around the world.

Source: BloombergNEF

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