Announced auction prices for wind and solar have continued to fall although average generation costs of new-built projects remain higher. Over the period 2017-22 global average generation costs are estimated to further decline by a quarter for utility-scale solar PV; by almost 15% for onshore wind; and by a third for offshore wind.

Auctions are also proving effective in rapidly reducing costs of offshore wind and CSP. While auction announcements (in terms of both volumes and prices) need to be verified over time, they suggest that expanding competitive pricing could result in even lower average costs in coming years.

Source: Renewables 2017

4 October 2017