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Renewable Energy Auctions: Analyzing 2016 (executive summary)

Renewable Energy Auctions: Analyzing 2016 (executive summary)

Full Title: Renewable Energy Auctions: Analysing 2016 (executive summary)
Author(s): International Renewable Energy Association
Publication Date: January 1, 2017
Full Text: Download Resource
Description (excerpt):

At least 67 countries had used auctions for renewable energy contracts by mid-2016, up from less than 10 in 2005. The forthcoming report from the International Renewable Energy Agency (IRENA) – of which this summary provides a preview – provides key updates on this crucial mechanism for price discovery and market development.

The report follows IRENA’s earlier studies:

Average contract prices fell to USD 50 per megawatt-hour (MWh) for solar and USD 40/MWh for wind power in 2016, compared to USD 250/MWh and USD 85/MWh, respectively, in 2010. Chile, Mexico, Morocco and the United Arab Emirates achieved record price lows with solar and wind auctions in 2016.

Along with falling technology costs, policy support and improved access to finance have helped drive accelerating renewable energy development.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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