THE POWER TO CHANGE: SOLAR AND WIND COST REDUCTION POTENTIAL TO 2025

This Report shows that solar and wind power technologies are commercially available although they still have significant potential for cost reduction. Indeed, by 2025 the global weighted average levelised cost of electricity (LCOE) of solar photovoltaics (PV) could fall by as much as 59%,1 the LCOE of concentrating solar power (CSP) could fall by up to 43%. Onshore and offshore wind could see declines of 26% and 35%, respectively.