Round-the-clock clean power now cheaper than fossil fuels

Round-the-clock electricity from renewables paired with battery storage is now delivering power at lower costs than fossil fuels.

A report from the International Renewable Energy Agency (IRENA) found levelised costs of electricity  for solar plus storage now range from £39 to £60 per megawatt-hour (MWh) in prime locations, compared with £51–62 per MWh for new coal in China and more than £73 per MWh for new gas globally.

IRENA’s analysis shows that costs have declined rapidly, as solar PV, wind power and battery storage have become cheaper.

Since 2010, total installed costs declined by 87% for solar PV and by 55% for onshore wind. Battery storage costs fell even more sharply, declining by 93%.

Construction timelines are also shortening with projects typically being built within one to two years of securing permits and grid connection, well ahead of new gas-fired alternatives in most markets.