Proof Point
Wind and utility solar costs, averaging between at $45 and $49.5 per megawatt-hour, cheaper than fossil fuel coal and natural gas
Average Cost of Energy Sources
2017 (US$/MWh)
Proof Point Findings
- Low-Cost Wind Power – Wind power found cheapest among renewable energy and conventional sources, averaging at $45 per megawatt-hour in 2017
- Renewables vs Fossil Fuels – Wind and utility-scale solar photovoltaics averaging at $45 and $49.5 per megawatt-hour, beat conventional sources of energy, such as fossil fuel coal costing $101.5 per megawatt-hour on average
- Stabilizing Prices – Generation costs of solar dropped 36% and wind 24% between 2013 and 2017, but experienced slowdown from 2016 to 2017 at 9% and 4%, respectively
- Key Drivers – Include more competitive pricing as suppliers and installers increase, improved labor productivity and performance, improvements in renewable technologies, optimized system configurations, and government policy support
|
Accelerator |
|
|
Sector |
Energy
|
|
Source |
|
|
Date Last Updated |
February 5, 2018
|
