Solar power costs continued to fall in 2021, despite rising panel prices

The average global price of solar kilowatt-hours fell 13% on 2020's prices, as around two-thirds of the renewables capacity installed last year was cheaper than the lowest-cost fossil fuel alternative.The global average levelized cost of energy (LCOE) from solar power fell 13% last year, despite the significant rise in materials costs and panel prices. That was partly because so many of the world's large-scale solar projects have a long lead in times and contractual clauses limiting cost increases, according to a new report published by the International Renewable Energy Agency (IRENA) this ...

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