An updated study on current and future generation costs by the CSIRO and the Australian Energy Market Operator confirms that wind, solar and storage technologies are by far the cheapest form of low carbon options for Australia, and are likely to dominate the global energy mix in coming decades.
The first report, GenCost 2018, identified that wind and solar were by far the cheapest forms of new generation technologies, clearly cheaper than coal, and even when combined with storage, remained easily the cheapest form low carbon electricity options.
A draft of the updated study, GenCost 2019-20, has been quietly posted on the AEMO website and confirms that wind and solar and storage remain the cheapest technologies, now and into the future, and much cheaper than the technologies promoted by the Australian government – gas, carbon capture, and nuclear.
