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Energy transition Q2 2024 update: Levelized cost of electricity from renewables

Use a solar PV / offshore wind / onshore wind image

In a recent white paper, we present an outlook on the cost of power generated from key renewable technologies: solar PV, onshore wind and offshore wind. Recent data demonstrates that the levelized cost of electricity (LCOE) may begin to fall after 2024 and we expect this downwards trend to continue. By 2030 the LCOE of solar PV could fall by 55%, while the LCOE for fixed and floating offshore wind are expected to reduce by 39% and 84%, respectively, in the period from 2020 to 2050.1 Read the full paper to learn more.

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  1. Energy Transition Outlook 2022’, DNV, October 2022.
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