Renewable energy costs across Asia were lower than for coal last year, in what is being seen as a groundbreaking shift for a region heavily dependent on fossil fuels for power generation, elektrek reported.
Solar and wind-sourced power costs were 13% less expensive than coal and are expected to be 32% cheaper by 2030, according to a new study, the report in the new energy news site went on, with the driving force behind the switch being the significant reduction in renewable energy projects’ capital costs.
China leads the way, seeing a 40-70% cost reduction in utility-scale solar, and onshore and offshore wind, compared to other Asia-Pacific markets and it’s expected to maintain a 50% cost advantage in renewable energy up to 2050.
Read the full story: elektrek
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