The analysts assessed the cost of power derived from photovoltaic and wind stations, taking account of the cost of construction, operation and technical servicing – and then calculated the cost of the energy produced.
According to their analysis, over the course of the first six months of 2021, the costs for large solar and wind-powered stations fell from $48 to $41 per MWh – a reduction of 5 to 7 % compared to the first half of 2020. The cheapest energy was produced in Brazil and Texas for wind energy and Chile and India for soIar — $22 per Mwh.
In China, the cost of building and operating a solar-powered station totalled $34 per Mwh – cheaper than existing coal-fired generation at $35 per MWh. In India, the cost was $25 for solar per Mwh, compared to $26 for coal.
China and India are the world’s two largest sources of coal-fired power generation.
In Europe, the current cost of new solar batteries totals $33 to $50 per Mwh. For coal-fired energy, the cost is $70.
The experts noted that prices for steel and polysilicon, vital for renewable energy sources, have risen significantly. As a result, the cost of photovoltaic modules and wind turbines have also risen – about 5 to 10 %. However, by “spreading” this cost through the entire chain of production, there have been no increases in the price of alternative energy.