Alex Marshall, Decentralized Energy
Summary
Economics and technology developments are changing the landscape of the power generation sector. Over the last 20 years, there has been a movement away from large centralised power stations towards decentralised generation close to the site of use.
The price of solar photovoltaic panels has dropped dramatically and is set to continue this trend. Combined heat and power technology, generating electricity and heat close to the site of use with gas engines is also now well-established cost effective technology.
The global weighted average levelised cost of electricity (LCOE) of utility-scale solar PV is forecast to drop by 40% by 2020, to $60/MWh, according to a new report from the International Renewable Energy Agency (IRENA). This follows a 73% drop in the LCOE of utility-scale solar PV between 2010 and 2017. For onshore wind price drops are also entrenched.
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