(BloomBerg) A decade ago, solar was more than $300 a megawatt-hour and onshore wind exceeded $100 per megawatt-hour. Today, onshore wind is $37 in the U.S. and $30 in Brazil, while solar is $38 in China, the cheapest sources of new electricity in those countries.
Battery storage is also getting more competitive. The levelized cost of electricity for batteries has fallen to $150 a megawatt-hour, about half of what it was two years ago. That's made it the cheapest new peaking-power technology in places that import gas, including Europe, China and Japan.
Battery storage is also getting more competitive. The levelized cost of electricity for batteries has fallen to $150 a megawatt-hour, about half of what it was two years ago. That's made it the cheapest new peaking-power technology in places that import gas, including Europe, China and Japan.
