Thanks to falling costs, unsubsidized onshore wind and solar have become the cheapest sources of electricity generation in nearly all major economies in the world, including India and China, according to a new report by Bloomberg NEF. The comparative costs for power generation—the levelized costs of electricity (LCOE)—showed that onshore wind and solar are the cheapest power generation sources for all major economies except for Japan. Even in India and China, where “not long ago coal was king”, solar and wind beat coal with cheaper generation, according to BNEF’s latest half-year LCOE analysis. “In India, best-in-class solar and wind plants are now half the cost of new coal plants,” says the study , as carried by Renewable Energy Magazine. In China, the utility-scale PV market has shrunk by a third so far in 2018, according to BNEF, because of the Chinese decision not to issue approvals for any new […]