Soaring costs of key commodities such as steel and polysilicon could make power from new wind and solar farms more expensive for the first time in years, said research group BloombergNEF.
As it released its latest data on levelised cost of energy (LCOE) from renewables, BNEF said steep increases since the start of the year could threaten to undermine a long downwards trend in power prices that has since 2010 seen solar’s cost fall by up to 87% and onshore wind’s 63%.
