James McKenzie believes that “concentrator solar power” could be the answer to our environmental woes. The Ivanpah Solar Power Facility in Nevada uses thousands of mirrors to focus sunlight onto a tank of water at the top of a tower, with the resulting steam being used to drive turbines. (Courtesy: [...]
Cumulative CSP installed capacity grew just over five-fold, globally, between 2010 and 2020, reaching around 6.5 gigawatts (GW) by the end of that period. Breaking the last five years of this down, after modest activity in 2016 and 2017 – with annual additions hovering around 100 megawatts (MW) per year [...]
Between 2010 and 2021, the global weighted average levelised cost of electricity (LCOE) of concentrated solar power (CSP) plants fell by 68%, from USD 0.358/kilowatt hour (kWh) to USD 0.114/kWh. Between 2010 and 2020, the global weighted average LCOE had declined by 70%, to USD 0.107/kWh. This was primarily driven [...]
The cost of renewables, meanwhile, continued to fall even in 2020, despite Covid-linked disruption. The cost of electricity from utility-scale solar PV declined by 7% year-on-year, while offshore wind fell by 9%, onshore wind 13% and concentrating solar power by 16%. Between 2000 and 2020, renewables capacity grew more [...]
Renewable electricity costs have fallen sharply over the past decade, driven by improving technologies, economies of scale, increasingly competitive supply chains and growing developer experience. Since 2010, utility-scale solar PV power has shown the sharpest cost decline at 82%, followed by concentrating solar power (CSP) at 47%, onshore wind [...]
Concentrating Solar Power costs have already plummeted by 47% compared to 2010. It is likely that costs will continue their downward trajectory thanks to economies of scale, deployment in locations with better solar resources and lower costs of capital, according to a study by the International Renewable Energy Agency [...]
CSP’s costs are dropping as the market gains steam in the Middle East and China. Can this once-promising technology regain its mojo? Concentrated solar power (CSP), a renewable energy technology that has more or less dropped off the radar in the U.S., is quietly becoming [...]
The International Renewable Energy Agency (IRENA) has reported that energy generation and installation costs of concentrated solar power (CSP) projects fell sharply in 2018, down more than 40% from 2010. IRENA analyzed multiple financial and technical parameters related to concentrated solar power projects in its latest report Renewable Power [...]
Renewable energy has become an increasingly competitive way to meet new power generation needs. This comprehensive cost study from the International Renewable Energy Agency (IRENA) highlights the latest trends for each of the main renewable power technologies. Released ahead of high-profile United Nations energy and climate discussions, Renewable Power Generation [...]
Developers of large-scale renewable energy projects in the Gulf Cooperation Council (GCC) must use innovative financing structures to minimize costs amid a growing demand for funding, the International Renewable Energy Agency (IRENA) said in a report on the Middle East region, published January 15. The GCC members are Saudi Arabia, [...]
Under current plans, the region will install 7 gigawatts (GW) of new power generation capacity from renewable sources by the early 2020s. Renewable energy is the most competitive form of power generation in Gulf Cooperation Council (GCC) countries, according to a new report published today by the International Renewable Energy [...]
IRENA estimates that by 2025 the global weighted average cost of electricity could fall by 26 % from onshore wind energy, by 35 % from offshore wind power, by at least 37 % from concentrated solar power (CSP) technologies, and by 59 % from solar photovoltaics (PV). IRENA, the Assembly [...]
Mr. Adnan Z. Amin, Director-General of the International Renewable Energy Agency (IRENA), congratulated His Majesty, King Mohammed VI of Morocco for his country’s remarkable progress in the pursuit of renewable energy, during a recent visit. Mr. Amin was in Tangiers to attend the 19th Throne Day reception – marking [...]
