More big falls in cost of wind, solar and storage mean they are cheapest form of new energy generation nearly everywhere in the world, and particularly in Australia.
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CSIRO and AEMO’s GenCost 2021-22 report confirms that wind and solar are the cheapest sources for electricity generation and storage in Australia. The report concluded that once the current inflationary cycle ends, wind, solar and batteries will continue to become cheaper.
You can find him on LinkedIn and on Twitter. More big falls in cost of wind, solar and storage mean they are cheapest form of new energy generation nearly everywhere in the world, and particularly in Australia.
And that is starting to show in the number of projects that are combining both, where the costs of wind and storage is down to as low as $A77/MWh, and solar and storage to $A90/MWh. Battery storage alone is beating open cycle gas on price in Australia.
The report concluded that once the current inflationary cycle ends, wind, solar and batteries will continue to become cheaper. It highlights a range of scenarios to help predict the mix and cost of potential technologies into the future.
Prices are corrected for inflation and are translated into current US dollars. There is no obvious correlation between the electricity market spot price and the rise and rise of solar and wind. Australia is a major exporter of coal and gas, and world parity prices prevail in Australia.
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