This report from IRENA explores the prospects for renewables to diversify both national economies and the combined GCC energy mix, while also helping the region meet climate commitments and contribute to the 2030 Agenda for Sustainable Development.
The cost of electricity from renewable energy technologies has fallen steadily, and in some cases dramatically, in recent years.
This report 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. Among the report’s key findings: Renewable power generation costs continue to fall and are already very competitive to meet needs for new capacity. Auctions are rapidly driving down costs in...
This report on cost and competitiveness indicators or rooftop solar PV, based on the trends witnessed in key electricity markets complements IRENA's cost analysis on cost trends for utility-scale renewable power generation.
This study shows that battery electricity storage systems offer enormous deployment and cost-reduction potential. By 2030, total installed costs could fall between 50% and 60% (and battery cell costs by even more), driven by optimisation of manufacturing facilities, combined with better combinations and reduced use of materials.
This report finds the region has a vast technical renewable energy potential of 739 gigawatts (GW) with wind energy being the most abundant resource, more than 4 times higher than that of solar PV. By 2030, additional cost-competitive potential for solar PV and wind is expected to reach 620 GW.
The report discusses challenges in policy making and proposes a co-ordinated effort to collect data on the installed costs of solar PV in Africa, across all market segments to improve the efficiency of policy support and accelerate deployment.
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.
Doubling renewables in the global energy mix by 2030 is not only feasible, but cheaper than not doing so. Economic savings would far exceed the costs. It would create more jobs, boost economic growth and save millions of lives annually through reduced air pollution. It would also, when coupled with greater energy efficiency, put the world on track to keep the rise of...
Smart grid technologies support the creation of an increasingly flexible electricity grid, enabling the integration of variable renewable energy. They work by incorporating information and communications technology at all stages of power generation, delivery and consumption, improving reliability and service to end-users.