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Renewables are getting much cheaper every year: * In 2020, the global weighted-average levelised cost of electricity (LCOE) from new capacity additions of onsh
by spenrose 5y ago
Renewables are getting much cheaper every year:
* In 2020, the global weighted-average levelised cost of electricity (LCOE) from new capacity additions of onshore wind declined by 13%, compared to 2019.
* Over the same period, the LCOE of offshore wind fell by 9% and that of utility-scale solar photovoltaics (PV) by 7%.
Source: https://www.irena.org/publications/2021/Jun/Renewable-Power-Costs-in-2020 https://www.irena.org/publications/2021/Jun/Renewable-Power-...
- cbmuser 5y agoLCOE is not what determines market prices but supply and demand. End customers pay market prices, not production costs. I don’t have any advantage as a customer when electricity is super cheap when it can’t be produced on demand.
- eldaisfish 5y agothose "prices" are misleading and are tantamount to wind and solar propaganda figures. There is a major cost that is not accounted for here - the cost of balancing the grid. When wind turbines aren't spinning and solar PV is dead, the grid continues to function. The generators doing that have a cost and that cost is paid for by the customer. The source of the problem is the variable generator i.e. wind or solar but the LCOE figure does not account for this because that charge is not passed on to the renewable generator. Those costs must be part of the LCOE figure else it is like saying that email costs zero.