Australia sees PV and wind as cheapest sources by 2030

By 2030, solar PV and onshore wind farms are expected to provide some of the lowest-cost alternatives to coal and gas-fired power stations, with PV likely to be considerably cheaper than all other energy forms by 2050, Australia's chief energy forecasting body says.

In The Australian Energy Technology Assessment (AETA), the Bureau of Resources and Energy Economics (BREE) compares the levelised cost of electricity (LCOE) – that is the price at which electricity must be produced from a specific source to break even – of 40 different generation technologies.

It finds the costs of PV have dropped sharply in the past two to three years as a result of a rapid increase in global production of solar modules.

“The results [of the study] indicate that Australia’s energy future is likely to be very different…

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