The Economics of Renewables: Navigating the New Phase of Power Generation Costs
An analysis of the shifting economics of solar and wind power, examining the transition to a new phase of renewable energy deployment, storage economics, and implications for global energy security.
The economics governing renewable power generation are undergoing a significant shift. After a decade characterized by rapid cost reductions, established technologies such as solar photovoltaic (PV) and onshore wind are now entering a new phase where cost improvement rates are moderating, although they maintain high competitiveness. Data suggests that over 90% of utility-scale renewable projects commissioned in 2025 are priced lower than the lowest-cost new fossil-fuel alternatives, underscoring the economic viability of renewables.
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Li Ming / Li Ming
Tech columnist and visiting scholar at MIT.