Renewables are closing in on cost-parity with fossil fuels and solar cell innovations are set to make a big impact, according to sector experts surveyed by Lloyd’s Register.

Lloyd’s Technology Radar – Low Carbon report examined the outlook for the renewables, nuclear, grid and infrastructure, and energy storage sectors.

Its research – based on the insights and opinions of leaders across the sector, as well as the views of almost 600 professionals and experts around the world – found that 70% of respondents from the renewable sector said renewables are reaching cost parity with fossil fuels.

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