Clean Energy Could Cost Up To59 Percent Less by 2025, Report Finds

The cost of solar energy could drop by as much as 59 percent by 2025, from 13 cents to 6 cents per kilowatt hour, according to a new report from the International Renewable Energy Agency.
Rooftop solar panels in Hannover, Germany.
Offshore wind could become 35 percent cheaper, and onshore wind 26 percent cheaper, by 2025. The cost of building renewable energy facilities is also likely to fall, by as much as 57 percent by the middle of next decade, the report found. “Historically, cost has been cited as one of the primary barriers to switching from fossil-based energy sources to renewable energy sources, but the narrative has now changed,” Adnan Z. Amin, director-general of IRENA, said in a statement. “To continue driving the energy transition, we must now shift policy focus to support areas that will result in even greater cost declines and thus maximize the tremendous economic opportunity at hand.”