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Cost development of low carbon energy technologies

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Cost development of low carbon energy technologies

This technical report by the Joint Research Centre (JRC) provides information abou the Future costs of low carbon energy technologies, including also photovoltaics and solar tehrmal electricity technologies. The report presents internally consistent trajectories of capital investment costs to 2050 for selected low carbon energy technologies. In order to do so, it combines global scenario projections of technology deployment with the one-factor learning rate method. Global scenarios are used to identify a range, based on potential deployment, in line with baseline assumptions and two long-term decarbonisation pathways. A sensitivity analysis is performed based on different learning rates and results are compared with literature. It is found that, depending on the technology, a 15 % to 55 % reduction in capital investment costs of offshore wind turbines, photovoltaics, solar thermal electricity and ocean energy may be achieved by 2030 compared to 2015.