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The world is looking at massive growth in renewable power production, but what is the actual cost? Michael Taylor from the International Renewable Energy Agency joins the Watt Matters team to discuss
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Every year, the International Renewable Energy Agency (IRENA) puts together a report, looking at the cost of renewable power production. The latest iteration shows that, despite inflation, the cost has dropped.
According to the report, the global weighted average levelised cost of electricity from new utility-scale solar, onshore wind, bioenergy and geothermal production fell. Thanks to the rise in fossil fuel prices, this makes the cost argument for renewables even more compelling, according to IRENA.
However, the picture is complicated, with China a key driver for the drop in solar photovoltaics and onshore wind.
To explain more, Michael Taylor, senior analyst for renewable cost status and outlook at IRENA, joins David, Jan and Michaela.
Enjoy the show!
If you have any thoughts or questions about anything that has been discussed in this week’s episode, you can reach us at our Twitter accounts:
Michael Taylor
Michaela Holl
Jan Rosenow
David Weston
Kira Taylor
@WattMattersPod
FORESIGHT Climate & Energy
Listen and subscribe to Watt Matters wherever you get podcasts. Follow us on Twitter at @WattMattersPod or email us at show@wattmatterspodcast.com
Illustration: Masha Krasnova-Shabaeva.
Show notes:
You can find the IRENA Renewable Power Generation Costs in 2022 report here.
What caught our eye this week:
Jan’s pick: Hydrogen should only play a limited & complimentary role to decarbonise heating – study
Michael’s pick: UK Office for Budget Responsibility July report on financial risks and sustainability
Dave’s pick: Rishi Sunak announces U-turn on key green targets
Michaela’s pick: Having land-use emissions could cut land-use emissions by 31% – Carbon Pulse
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