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Stunning Drops in Solar and Wind Costs Turn Global Power Market Upside Down
CREDIT: U.N. and BNEF
The world built more renewables for far less money last year, report UN and Bloomberg New Energy Finance.
thinkprogress.org - by Joe Romm - April 6, 2017
Stunning drops in the cost of wind and solar energy have turned the global power market upside down . . .
. . . Unsubsidized renewables have become the cheapest source of new power — by far — in more and more countries, according to a new report from the United Nations and Bloomberg New Energy Finance (BNEF).
In just one year, the cost of solar generation worldwide dropped on average 17 percent, the report found. The average costs for onshore wind dropped 18 percent last year, while those for offshore wind fell a whopping 28 percent.
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