Based on the auctions for upcoming projects around the world, cost per kilowatt-hour will be competitive or lower than fossil fuels. [Read More]
Summary… * Machine-Made
The cost of renewable energy sources like wind and solar continue to fall drastically, and it was only a matter of time before they were cheaper than fossil fuels.
The International Renewable #Energy Agency (IRENA) believes that’ll happen by 2020 based on their new report.
Across the board, average costs of producing renewable energy projects have been very competitive.
Hydropower was the cheapest at five cents per kilowatt-hour, onshore wind at six cents, and bioenergy and geothermal sources at seven cents.
Solar projects are still high in comparison at 10 cents per kWh, but that figure has dropped 73 percent since 2010.
Opinion… * Man-Made
By 2020, all the renewable power generation technologies that are now in commercial use are expected to fall within the fossil fuel cost range, with most at the lower end or undercutting fossil fuels. #Energy #Trend