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The Future of Competitiveness: Cost Reduction Potentials for Solar and Wind
The Future of Competitiveness: Cost Reduction Potentials for Solar and Wind

Monday, March 23, 2015  Bonn, Germany

 In a workshop held in Bonn on 23rd March 2015, the International Renewable Energy Agency (IRENA) brought together industry stakeholders and policy makers to discuss the future cost reduction potentials and performance improvements for solar photovoltaic, concentrated solar power, onshore and offshore wind technologies.

Entitled 'The Future of Competitiveness: Cost Reduction Potentials for Solar and Wind', the workshop assessed the perspectives for renewable energy in a low energy price environment given the rising importance of renewable energy as an important issue for energy diversification and security as well as its ability to address environmental concerns. 

For access to workshop presentations please click on the 'Agenda' above. 

 

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.