Date & Time: 8 September 2026 at 2 pm CEST
Organizer: IRENA
Description: Solar and wind are now the cheapest sources of new electricity in most of the world. As their share of generation grows, the decisive question is no longer the cost of producing clean electricity, but the cost of delivering it when it is needed - including around the clock.
IRENA's new report, 24/7 Renewables: The Economics of Firm Solar and Wind, examines what it costs to turn variable solar and wind output into a continuous, dependable supply. It introduces the firm levelised cost of electricity (firm LCOE): a transparent, project-level benchmark that adds the cost of battery storage, generation overbuild and complementary renewables to the conventional LCOE. Applying this metric across leading markets, the analysis finds that co-located solar, wind and battery systems at high-quality sites can already deliver round-the-clock electricity at USD 54-82 per MWh - at or below the cost of new coal- and gas-fired generation - with costs projected to fall by a further 30% by 2030.
The report also explains what drives these costs: resource quality and the depth of prolonged low-generation periods, technology and financing costs, system configuration, and the level of reliability targeted. It shows why combining solar and wind is usually cheaper than firming either technology alone, and why costs rise sharply beyond roughly 90% reliability. Beyond cost, it considers the speed of deployment, resilience and hedging value of hybrid renewable systems - and the market and policy reforms needed for these economics to translate into projects on the ground.
This webinar will present the report's key findings and discuss what they mean for utilities, investors, industrial buyers and policy makers.
