Renewable energy has emerged as an increasingly competitive way to meet new power generation needs. This comprehensive cost report from the International Renewable Energy Agency (IRENA) highlights the latest trends for each of the main renewable power technologies, based on the latest cost and auction price data from projects around the world.
By the end of 2016, geothermal global cumulative installed capacity was still relatively modest at 12.6 GW and was surpassed in installed capacity terms by offshore wind in that year. Geothermal electricity generation is a mature, baseload generation technology that can provide very competitive electricity where high quality resources are well-defined. The LCOE of conventional geothermal power varies from USD 0.04/kWh to around USD 0.13/kWh for
recent projects.
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