What is the current levelized cost of energy for natural gas-fired combined cycle plants in the US, and how does it compare to recent years?

The levelized cost of energy for natural gas-fired combined cycle plants in the US rose to $90 per megawatt-hour in 2026, up from $78 a year earlier, and is the highest since at least 2009—the earliest year in Lazard's data—when it was $83.

How have the levelized costs of solar and onshore wind power changed recently, according to the same report?

According to the report, the levelized cost of solar power rose to $69 per megawatt-hour and onshore wind increased to $68 per megawatt-hour, both up more than 10% from a year ago and representing the highest levels since at least 2014.

US Natural Gas Power Costs Hit 17-Year High, Lazard Says

Jul 13, 2026

Lazard reports US natural gas power costs reached $90/MWh in 2026, a 17-year high driven by surging demand from new data centers. Solar and wind costs also rose over 10% year-over-year to record levels.

bloomberg

2026-07-13

US Natural Gas Power Costs Hit 17-Year High, Lazard Says

2026-07-13

Solar costs jump 18%, but remain the cheapest generation to build, Lazard says

US Natural Gas Power Costs Hit 17-Year High, Lazard Says

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