IRENA report shows cost of electricity from bioenergy down 14%

June 15, 2019 |

In the United Arab Emirates, a new International Renewable Energy Agency report said that the global weighted-average cost of electricity from concentrating solar power (CSP) declined by 26%, bioenergy by 14%, solar photovoltaics (PV) and onshore wind by 13%, hydropower by 12% and geothermal and offshore wind by 1%, respectively.

The report, titled “Renewable Power Generation Costs in 2018”, said that costs for renewable power reaffirms renewables as a low-cost solution to boost global climate action. The IRENA report also said that costs for renewable energy technologies decreased to a record low last year. Cost reductions, particularly for solar and wind power technologies, are set to continue into the next decade, the new report finds.

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Category: Fuels

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