New Energy Becoming The World's Best Deal

Global renewable energy trends; Solar and wind move from mainstream to preferred

Marlene Motyka, Andrew Slaughter, Carolyn Amon, September 13, 2018 (Deloitte Insights)

“Having only recently been recognized as a “mainstream” energy source, renewable energy is now rapidly becoming a preferred one. A powerful combination of enabling trends and demand trends—evident in multiple developed and developing nations globally—is helping solar and wind compete on par with conventional sources and win…Wind and solar have reached grid price parity and are moving closer to performance parity with conventional sources…

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Beyond the leading countries, wind and solar price parity is also within sight worldwide as the cost gap widens between these and other generation sources…Utility-scale solar and wind combined with storage are increasingly competitive, providing grid performance parity in addition to price parity…Utility-scale grid parity is not the only factor, as distributed renewables such as rooftop solar are reaching socket price and performance parity…The intermittency challenges of wind and solar may be overstated…Wind and solar place downward pressure on electricity prices…Growing shares of wind and solar pair with greater grid reliability and resilience…Wind and solar can become important grid assets…” click here for more

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