Global LCOE projection by key country 2015-2020
Cost of renewables
The falling cost of renewables has prompted a global shift towards using renewable sources for energy generation. Most notably, the average cost of solar and wind power technologies is expected to continue to decrease. The costs of installing offshore wind are also encouraging countries with the resource potential to put more into the market. Other less mainstream energy sources, like geothermal energy have experienced more of a fluctuation in costs as development spending varies.