Renewable Cost Trends and Scope for Improvement

摘要

Renewable energy (RE) deployment has been expanding rapidly, which is evidence that this group of low-carbon energy technologies can deliver the intended policy benefits of improved energy security, greenhouse gas reductions and other environmental benefits, as well as economic development opportunities.RE technologies may not generally be cost-competitive under current pricing mechanisms, and so may be inhibited by an economic barrier. The market expansion of RE technologies, however, has been accompanied by cost reductions in critical technologies, such as wind and solar PV, and such trends are set to continue. The portfolio of RE technologies, which includes established hydro power, geothermal and bioenergy technologies is now, therefore, cost-competitive in an increasingly broad range of circumstances, providing investment opportunities without the need for specific economic support. For example, wind projects have successfully competed with other generation projects (including gas) for long-term power purchase contracts in Brazil without special support measures, and solar water heating has expanded rapidly in China due to its favourable economics. Taking the portfolio as a whole, RE technologies should no longer be considered only as high-cost, immature options, but potentially as a valuable component of any secure and sustainable energy economy, providing energy at a low cost with high price stability.