Rich countries spend six times more on supporting coal, oil and gas than on helping poorer nations fight climate change. Photo: Shutterstock

RE beating fossil LCOE – study

The average current and future costs for the construction and operation of renewable energies, or levelised cost of electricity (LCOE), is often cheaper than that of fossil-fired power plants, a meta-analysis by Germany's agency for renewable energies (AEE) says.

7 October 2014 12:24 GMT Updated 27 September 2016 5:48 GMT

By Bernd Radowitz in Berlin

The agency compared 20 scientific studies to produce the analysis. The AEE is financed by various German companies and supported by the environment and agriculture ministries.

"Renewable energies in part already today are competitive," says AEE managing director Philipp Vohrer.

"At good locations, the LCOE of new wind or PV plants can even be lower than that of new fossil power plants."

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RE beating fossil LCOE – study