Are we too pessimistic? Cost projections for solar photovoltaics, wind power, and batteries are over-estimating actual costs globally

Cost projections of renewable energy technologies are one of the main inputs for calculating energy transitions. Previous studies showed that these projections have been overestimated. In this study, we update the assessment of cost projections, comparing over 40 studies and 150 scenarios, between 2020 and 2050 of the main renewable energy technologies: utility-scale solar photovoltaics, rooftop solar photovoltaics, onshore and offshore wind, and Li-ion batteries. Generally, all studies reviewed expect a strong reduction in the levelised costs and capital expenditures, though with different reduction levels. While the revised cost projections have improved and are more aligned with historical trends, they are…

• BF
  Bundesministerium für Bildung und Forschung

  Award: 03SF0690
• MO
  Ministry of Business, Innovation and Employment