Solar and wind power generation doubled their share over the last five years in terms of global energy supply. This is an astonishing growth rate of 14.87% per annum on average. But what has contributed to that rapid increase? Coronavirus, it turns out, has played a role.
Hydropower remains one of the least-expensive energy sources. This remains true even despite recent cost increases. Since 2010, hydropower’s global weighted average levelized cost of energy has increased by 27% to around USD 47 per MWh in FY2019. This uptick is due to rising installation costs, which in turn are largely due to new projects being located in more challenging locations.