According to the IRENA report, how do the firm levelised costs of electricity from solar plus battery storage compare with those of new coal and gas power globally?

The IRENA report states that firm levelised costs of electricity from solar with battery storage range from $54–$82/MWh in high-irradiance regions—down from over $100/MWh in 2020—making them cost-competitive with new coal (costing $70–$85/MWh in China) and new gas capacity (costing more than $100/MWh globally).

What are the projected firm levelised cost reductions for solar plus battery storage by 2030 and 2035, according to the IRENA report?

The report projects further levelised cost reductions for solar plus battery storage of around 30% by 2030 and around 40% by 2035, bringing costs below $50/MWh at the best-performing sites by 2035.

Solar and Wind with Battery Storage Become More Cost Competitive, IRENA Report Shows

May 6, 2026

IRENA reports solar and wind with battery storage are now cost-competitive with coal and gas. Levelised costs have dropped sharply since 2010, with projections to fall below $50/MWh by 2035 at best sites.

reuters

2026-05-06

Solar and Wind with Battery Storage Become More Cost Competitive, IRENA Report Shows

Solar and Wind with Battery Storage Become More Cost Competitive, IRENA Report Shows

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