Utility solar dethrones coal as the cheapest power source in Asia
According a new analysis from Wood Mackenzie on the levelized cost of electricity for the Asia Pacific region, the cost of renewables reached a historic low in 2023. Renewable energy costs in Asia last year were 13% cheaper than coal and are expected to be 32% cheaper by 2030. Utility solar is now the cheapest power source in 11 out of 15 APAC countries. New-build solar project costs are expected to fall by another 20% by 2030.
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