Analysis shows large-scale PV still cheapest electricity tech in Australia
- Admin
- May 21, 2024
- 1 min read
The CSIRO's 2023-24 GenCost report reveals that large-scale solar costs have decreased by 8% in Australia over the past decade, while onshore wind costs have risen by 8%. The report compares costs of building new coal, gas, solar, wind, batteries, and nuclear generators. Firmed renewables, including transmission and storage costs, are the cheapest power source for Australians. The report introduces large-scale nuclear technology as the most expensive. Stakeholder engagement in GenCost is crucial for accurate cost forecasts regarding electricity generation and storage. Large-scale nuclear cost estimations are based on successful models like South Korea's nuclear program.
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