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.

31 July 2012 6:35 GMT Updated 23 September 2016 11:51 GMT

By Oliver Wagg, Brisbane

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

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Australia sees PV and wind as cheapest sources by 2030