According to a new report from the independent financial think tank Carbon Tracker Initiative, renewable power generation costs are already lower on average worldwide than fossil fuels.
The new sensitivity analysis published by Carbon Tracker this week, End of the load for coal and gas? makes the bold claim that renewable power generation costs are already lower on average worldwide than generation costs of fossil fuels, and that clean energy plants are only going to become more cost-competitive by 2020. The report’s authors clarify further, however, by explaining that their findings are based on Levelized Costs of Electricity (LCOEs), and that there are “widely recognized … large ranges of values for each technology” within a technology’s LCOE.
