Report: Solar power the world’s cheapest form of electricity production

Author: Spencer Ogden
Date posted09/Jan/2017
Author: Spencer Ogden
According to data produced by Bloomberg New Energy Finance (BNEF) solar power is becoming the cheapest way to generate electricity. 

The date showed the cost of solar in 58 lower-income countries – including China, Brazil and India- had decreased to a third of levels in 2010 and is now slightly cheaper than wind energy.

BNEF chairman Michael Liebreich said in a note to clients: “Renewables are robustly entering the era of undercutting [fossil fuel prices].”

“Renewable energy will beat any other technology in most of the world without subsidies,” said Mr Liebreich.

A BNEF report, also found China, Chile, Brazil, Uruguay, South Africa, and India to be the emerging markets most likely to attract investment in renewable energy projects.

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