In some parts of the world, solar power is now the cheapest source of electricity in history. That’s according to a new report released today by the International Energy Agency (IEA). In most countries in the world, it’s consistently cheaper to build solar farms than new coal- or gas-fired power plants, the report says. For utility-scale solar projects completed this year, the average cost of electricity generation over the lifetime of the plant (called the levelized cost of electricity) was between $35 to $55 per megawatt-hour in some of the world’s biggest markets — the US, Europe, China, and India. Just four years ago, the global average levelized cost for solar power was $100 per megawatt-hour, according to the World Economic Forum. About a decade ago, it was $300.
— source theverge.com | Oct 13, 2020