Energy Technology

Wind, Solar, & Batteries Continue To Squeeze Out Fossil Fuels, Finds BNEF

Clean Technica: A new report from Bloomberg New Energy Finance shows that continued cost reductions for renewable energy sources like wind and solar and new technologies like batteries are continuing to squeeze out the traditional role that has been played by fossil fuel energy sources.

Bloomberg New Energy Finance (BNEF) published its most recent analysis of the levelized cost of electricity (LCoE) for all leading energy technologies this week, which showed that in the first half of 2018, the benchmark global LCoE for onshore wind fell to $55 per megawatt-hour (MWh), down 18% from the first six months of 2017 and down 38% over the 9 years that BNEF has been tracking LCoEs. Similarly, the global LCoE for solar PV without tracking systems fell to $70/MWh, also down 18% and down 77% over BNEF’s 9 year tracking period.

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