It’s been a rollercoaster year for renewables. The price of solar and wind plummeted, China smashed its target for solar installations – but Donald Trump also withdrew the US from the Paris climate agreement. So what do the experts predict for 2018?
Renewable energy costs will continue to fall
Solar prices have dropped by around 62% since 2009, while offshore wind costs have also halved in recent years, reaching £57 per megawatt hour in 2017. As a result, governments are seeing record-low prices for solar and wind at power auctions, and subsidy-free solar and wind farms are now being developed.
Jennifer Delony, associate editor of Renewable Energy World, believes that the rise of country-level auctions for renewable capacity is a trend that will continue to drive down prices in India and other countries – particularly in the case of solar photovoltaic (PV). “It’s just the sheer power of competition in those auctions,” she says, “and I expect that competition to keep barrelling forward next year.” Read More…