The International Renewable Energy Agency, the renewable energy policy network in the 21st century, and the new energy finance and economics of pembo released the latest renewable energy reports one after another. They all agreed that renewable energy is the cheapest source of power generation even without financial subsidies.
Onshore wind and photovoltaic are the cheapest
In the report, the International Renewable Energy Agency pointed out that the installation and maintenance costs are the main factors hindering the large-scale commercial application of renewable energy. Since the downward trend of costs in the industry has been determined, onshore wind and solar power generation is cheaper and cleaner than any low-cost alternative to fossil fuels without any economic assistance. Even compared with existing coal-fired power plants in operation, the installation cost advantages of new solar and wind power generation facilities are obvious. Analysts pointed out that the cost of onshore wind and solar power generation will continue to be lower than any fossil fuel from 2020, which will be the biggest contributor to the global goal of “decarbonization”.
According to the International Renewable Energy Agency, the cost of onshore wind and solar power generation in some parts of the world is only US $0.04/kwh, while the auction price of solar power generation in Chile, Mexico, Peru, Saudi Arabia and the United Arab Emirates has dropped to US $0.03/kwh.
According to the International Renewable Energy Agency, the global average cost of onshore wind power will decrease by 8% to US $0.045/kwh in 2020, and the average cost of photovoltaic power generation will decrease by 13% to 0.048 US dollars / kWh. In addition, more than 3 / 4 of onshore wind power and 1 / 5 of photovoltaic power generation cost will be lower than that of new coal, oil and natural gas power generation in 2020.
According to the statistics of the International Renewable Energy Agency, the number of employees in the global renewable energy industry reached 11 million last year, an increase of 6% compared with that in 2017, indicating that the role of the industry in the global economy and energy structure is increasingly prominent. Employment is mainly concentrated in China, the United States, Brazil and Europe. Asian countries account for 60% of the global renewable energy employment market. Solar energy is the largest “employer” of the global renewable energy industry.
Low price green electricity will become normal
According to the report on the global situation of renewable energy in 2019, the decline in global renewable energy investment last year was mainly caused by the lower cost of solar power generation technology, which also means that the industry can get the required power at a lower cost.
According to the network data, the scale of renewable energy investment last year decreased by 11% compared with that in 2018, to 288.9 billion US dollars, but it was still the fifth consecutive year of more than 250 billion US dollars, of which China led the way with 91.2 billion US dollars for the seventh consecutive year. Worldwide, solar energy remained the largest investment focus, with an investment scale of US $139.7 billion, down 22%; while wind power increased by 2% to US $134.1 billion. By the end of last year, the global installed capacity of renewable energy power generation was 1246 GW, of which China accounted for 32.4%, accounting for 404 GW; 28 countries of the EU accounted for 27.2%, 339 GW; and the United States accounted for 14.4%, accounting for 180 GW.
At present, more than 20% of the world’s electricity comes from renewable energy. It is believed that low-cost green power is becoming the norm. The 21st century renewable energy policy network survey found that 70% of the experts interviewed believe that the cost of renewable energy will continue to decline. Some experts even say that by the middle of this century, the world can easily transform into a 100% renewable energy structure.