New renewable energy to be cheaper than coal in 2020: OECD

The prices of new renewable energy and coal-produced energy will reach parity by 2020, according to the OECD's Nuclear Energy Agency The agency forecasted that the levelized costs of electricity for onshore wind will be equal to or lower than those of thermoelectric power plants by then

This comes from an analysis of over one-hundred-80 renewable and non-renewable plants in 22 countries With the three-percent reduction applied to renewable energy, the average onshore wind costs will fall around 75 US dollars per megawatt, and lower than those of coal power at over 76 dollars The cost of generation of renewable energy also remains on a downtrend amid eco-friendly initiatives taken by the international community

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