Investor Presentation December 2020
The Case for Renewables
Technology advances have dramatically reduced costs for solar & wind power in last decade below
fossil fuel alternatives
Global weighted average levelized cost of electricity from utility-
scale renewable power generation technologies, 2010 and 2019
2019 USD/kWh
Solar
Photovoltaic
Concentrating
Solar Power
Offshore
Wind
Onshore
Wind
0.4
0.378
63
0.3
0.2
0.1
0
Fossil Fuel
Cost Range
0.068
2010
2019
0.346
0.259*
0.161
0.182
0.115
0.086
0.053
2010
2019 2010 2019 2010
2019
8||
Competitive power generation costs make investment in
renewables highly attractive
Renewable power generation technologies are
(4A) competing head-to-head with fossil fuel options without
O
FOR
financial support
Increasingly undercutting fossil fuel options, in many
cases by a substantial margin
Declining costs driven by improving technologies, higher
capacity factors, scale economies, & competitive supply chains.
56% of capacity additions for utility-scale renewable power in
2019 achieved lower electricity costs than cheapest new coal
Capital availability
* Note for CSP, the dashed bar in 2019 shows the weighted average value including projects in Israel
Source: IRENA - "Renewable Power Generation Costs in 2019", June 2020 Report
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Investor Presentation December 2020
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