Global average solar LCOE stood at $0.044/kWh in 2023, says IRENA

The International Renewable Energy Agency (IRENA) says the result represents a 12% year-on-year decline. The figure has fallen 90% since the start of 2010. The globalized weighted average levelized cost of electricity (LCOE) of utility-scale solar plants stood at $0. 044/kWh in 2023, according to a report from the International Renewable Energy Agency (IRENA). The report says the result represents a 12% year-on-year (YoY) decrease, compared to a 3% YoY decrease between 2021 and 2022. In 2010, the figure stood at $0. 460/kWh, meaning the weighted average LCOE has fallen by 90% since the start of ...

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