Global average solar LCOE stood at $0.044/kWh in 2023, says IRENA
- Admin
- Sep 27, 2024
- 2 min read
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 IRENA. The report highlights a significant decrease in LCOE due to various factors such as decreasing installation costs, increasing capacity factors, and falling operation and maintenance costs. Analysis of selected countries shows a decline in the weighted average LCOE of utility-scale solar between 2010 and 2023.
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