Solar and wind have become the cheapest sources of new electricity generation worldwide. As renewable penetration rises, however, the central challenge of the energy transition is increasingly one of adequacy and flexibility – ensuring that clean electricity is available when and where it is needed.
This webinar presents findings from IRENA’s report, 24/7 Renewables: The Economics of Firm Solar and Wind, which introduces the firm leveled cost of electricity (firm LCOE): a project-level benchmark that adds battery storage, generation overbuild and complementary renewables to the conventional LCOE.
The analysis finds that co-located solar, wind and battery systems at high-quality sites can already deliver round-the-clock electricity at USD 54–82 per MWh, at or below the cost of new coal- and gas-fired generation, with costs projected to fall a further 30% by 2030.
Access the webinar here