The competitiveness of renewable energy in the Asia Pacific region worsened last year as equipment, construction costs and interest rates drove up power prices, Wood Mackenzie said.
The levelised cost of electricity (LCOE) for utility solar and onshore wind in the region rose 16% and 12% respectively since 2020, latest analysis by the consultancy showed. The trend is expected to reverse this year, although volatility risks including political tensions, trade policy and financing remain.
