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RENEWABLE POWER GENERATION COSTS 2019 The LCOE of a given technology is the ratio of lifetime costs to lifetime electricity generation, both of which are discounted back to a common year using a discount rate that reflects the average cost of capital. In this report, all LCOE results are in real, 2019 USD (that is to say, taking into account inflation). They are also calculated excluding any financial support and using a fixed assumption of a real cost of capital of 7.5% in Organisation of Economic Co-operation and Development (OECD) countries and China, and 10% in the rest of the world, unless explicitly mentioned. All LCOE calculations exclude the impact of any financial support. All data presented here is for the year of commissioning. Planning, development and construction can take 2-3 years for solar PV and onshore wind, but can take five years or more for CSP, fossil fuels, hydropower and offshore wind. These varied metrics allow us not only to follow the evolution of the costs of renewable power generation technologies, but also analyse what the underlying drivers are, at a global level and in individual countries. These layers of data and the granularity available provide deeper insights for policy makers and other stakeholders. 20PDF Image | RENEWABLE POWER GENERATION COSTS IN 2019
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