How much do different renewable energy sources cost and how do they compare to one another? This analysis from SolarPower.Guide ranks various types of energy on their cost per megawatt hour. While the ranking is based on the energy source’s levelized cost of electricity per MWh, it also includes the base cost of the energy source. The levelized cost of electricity is the estimate of the revenue required to build and operate a generator over a specific cost recovery period, according to the U.S Energy Information Administration. Which energy source is the most cost efficient? It turns out standalone solar is the cheapest renewable energy option with a cost of $32.78 per Mwh. How much do less eco-friendly energy sources cost? While it’s not as detrimental as traditional coal plants, ultra-supercritical coal was included in the analysis and was found to be at the higher end of the spectrum in terms of cost. It’s levelized costs of electricity were more than double that of solar at $72.78.
Check out the chart for the full cost analysis.
