Stunning drops in the costs of solar and battery storage technologies are ensuring that renewables are not only significantly cheaper than coal and gas power plants on generation costs, but also competitive with fossil fuel generation when it comes to dispatchable generation, Renew Economy reports.
The latest technology cost analysis by BloombergNEF found that battery storage costs have fallen by more than one third since the first half of 2018, and wind and solar have fallen by 10% and 18% respectively over the same time period. However, the most significant drop has been the cost of lithium-ion battery storage, which BNEF says has fallen by 35%.
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