This short video illustrates the levelized cost of energy (LCOE) for both conventional and alternative sources.
The video highlights the plummeting costs of renewable enegy technologies, most notably wind and solar. Over the past five years, the cost of utility-scale wind power has dropped 56 percent, while the price of energy from utility-scale solar photovoltaic has plunged 78 percent. Price declines have made these renewable energy sources cost-competitive with fossil fuel-generated technologies in certain cases.
Data in the video comes from Lazard, an international financial advisory and asset management firm. Lazard has published LCOE cost studies for the past several years.