Current | New BEIS forecasts show costs of renewables continues to fall

Costs of deploying renewable electricity generators continue to fall. This is as new government statistics show dramatic cost reductions for solar and wind out to 2040.

The Electricity Generation Costs document details forecasts for the levelised cost of energy (LCOE) across a number of electricity generation technologies.

Tom Edwards, Senior Modelling Consultant at Cornwall Insight, explained how the figures also show that hurdle rates for solar and wind have come down since the 2016 report, “while hurdle rates for traditional thermal technologies remain fairly static”.

This gives us a good indication that investors are getting more comfortable with these assets classes and are more willing to put their money behind them.”

Tom Edwards, Senior Modelling Consultant