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Event Archive
Levelised Costs of Renewable Energy: What if costs continue to drop?

Friday, October 26, 2012  Bonn, Germany

Equipment and project costs for many renewable technologies are falling, some rapidly, requiring policy makers and other stakeholders to adjust quickly. The International Renewable Energy Agency (IRENA) and the International Energy Agency (IEA) unit for the Renewable Energy Technology Deployment Implementing Agreement (IEA-RETD) jointly organised a workshop, “Levelised Costs of Renewable Energy: What if costs continue to drop?” to stimulate discussion on the consequences and future implications of declining costs in the sector.

Research meets Practice: International cooperation for sustainable development

Wednesday, October 17, 2012  Bonn, Germany

This past 17 October IRENA had the pleasure of participating in a GIZ event: The uphill battle: New challenges for low-cost renewable energies.

Part of a speaker series called Research meets Practice the event addressed the uphill battle faced by developing countries, electricity market design barriers, regulations and financing models, the greater deployment of variable renewable energies and grid stability and supply security.

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Advanced biofuels to be competitive with fossil fuels by 2020.       Solar PV module prices of around USD 0.75/Watt makes PV the economic solution for 1.3 billion people.       Electric vehicle battery packs to fall 40% to 55% by 2020 to cost USD 300-400/kWh in 2020.       Some of today's first-of-a-kind commercial plug-in hybrid and battery electric vehicles are economic today.       Road transport accounted for 76% of total transport demand in 2010.       Biodiesel consumption grew 42% per year between 2000-2010.       Feedstock costs account for 60-80% of total conventional ethanol production costs.       The levelised cost of electricity of wind, solar PV, CSP and biomass is declining.       Electricity from hydropower, geothermal and biomass where good resources remain are the cheapest way to generate electricity.       Renewables are increasingly the most economic solution for new grid connected capacity.       Wind turbine prices have been declining since 2009.       Renewables are becoming the economic choice for off-grid and mini-grids.       Wind turbine prices in China in 2012 were USD 620/kW.       The installed cost of wind is typically lower than coal-fired power plants in OECD countries.