Renewables up to 50% cheaper than previous estimates
New figures published in a report from the Department for Business, Energy and Industrial Strategy (BEIS) show that the cost of energy generated from wind and solar is 30 to 50 per cent cheaper than estimates from 2016.
The report adds that electricity from onshore wind or solar could be supplied in 2025 at half the cost of gas power.
In 2013, the UK government estimated that an offshore windfarm opening in 2025 would generate electricity for £140/MWh. By 2016, this was revised down by 24 per cent, to £107/MWh. The latest estimate puts the cost at just £57/MWh, another 47 per cent reduction.
The report can be read in full here.