News Flash
- IRENA says in its new “Renewable Power Generation Costs in 2022” report that the LCOE for large-scale PV facilities fell by 3% year on year in 2022 to $0.049/kWh.
The International Renewable Energy Agency (IRENA) says that PV, onshore wind, concentrated solar power (CSP), bioenergy, and geothermal energy experienced substantial reductions in their levelized cost of electricity (LCOE) in 2022. Image credit: IRENA
IRENA says that China drove the global decrease in solar and onshore wind costs in 2022, while other markets had more varied outcomes, including higher costs in several important markets.
IRENA also noted that while PV was 710% pricier than the least expensive fossil fuel-powered solution in 2010, by 2022, it had become 29% cheaper than the least expensive fossil fuel-powered option
Author: Luis Ini
This article was originally published in pv magazine and is republished with permission.
