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Lower storage costs will drive renewable energy growth

Tuesday, December 4, 2018

Subject

Renewable energy costs.

Significance

Renewable energy costs continue to fall in both absolute terms and relative to conventional energy sources.

Impacts

  • The switch to competitive bidding will see costs peak and then decline for governments that face high subsidy bills from feed-in tariffs.
  • The portfolio of subsidy-free renewable energy options will grow in the next five years to include solar thermal energy and offshore wind.
  • Technology advances will particularly reduce the cost over the next decade of building offshore wind capacity.
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