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- Advanced biofuels to be competitive with fossil fuels by 2020.
- Solar PV module prices of around USD 0.75/Watt makes PV the economic solution for 1.3 billion people without access to electricity.
- Electric vehicle battery packs to fall 40-55% USD 300-400/kWh by 2020.
- Some first-of-a-kind commercial plug-in hybrid and battery electric vehicles are proving economical.
- Road transport accounted for 76% of total transport demand in 2010.
- Biodiesel consumption grew 42% per year between 2000 and 2010.
- Feedstock costs account for 60-80% of total conventional ethanol production costs.
- The levelised cost of electricity of wind, solar PV, CSP and biomass is declining.
- Where good resources are available, electricity from hydropower, geothermal and biomass provide the cheapest means to generate electricity.
- Renewables are increasingly the most economic solution for new grid-connected capacity.
- Wind turbine prices have been falling since 2009.
- Renewables are becoming the economic choice for off-grid and mini-grids.
- Wind turbine prices in China in 2012 were USD 620/kW.
- The installed cost of wind is typically lower than coal-fired power plants in OECD countries.
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The Power to Change: Solar and Wind Cost Reduction Potential to 2025
Increasing economies of scale, more competitive supply chains and further technological improvements will continue reducing the costs of solar and wind power. The same factors will also boost the availability of these key renewable power sources at night and in varying weather conditions.- June 2016
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- Costs, Power
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