Geothermal Power
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Geothermal, like biomass-fired electricity and hydropower, is among the cheapest forms of generation where good resources exist, with costs as low as USD 0.04/kWh for the most competitive projects. Between 2007 and 2014, the LCOE of geothermal varied from USD 0.04/kWh for second-stage development of a field to USD 0.14/kWh for greenfield developments. Geothermal electricity generation is a mature, baseload generation technology that utilises steam or hot water from geothermally active areas to provide highly competitive electricity where high-quality resources exist. Enhanced geothermal techniques can also make geothermal viable in areas without good resources.
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The Power to Change: Solar and Wind Cost Reduction Potential to 2025
Increasing economies of scale, more competitive supply chains and further technological improvements will continue reducing the costs of solar and wind power. The same factors will also boost the availability of these key renewable power sources at night and in varying weather conditions.- June 2016
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- Costs, Power
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Upcoming Events
Falling RE costs: How Can Modellers Keep up?
12 April 2019 |Bonn, Germany
Organized by IRENA and IEA PVPS, this workshop targets leading international and local renewable...
Past Events
Bonn Lecture Series: The True Costs of Renewables
25 January 2018 | Bonn, Germany
Up-to-date insights into the competitiveness trends of renewable power generation costs have...
Regional Workshop on Renewable Energy in Central Asia
26 April 2017 | Abu Dhabi, UAE
The International Renewable Energy Agency (IRENA) initiated a regional consultative process with the...