Amongst the different sources of renewable electricity generation, concentrating solar power and offshore wind were the most expensive in 2023, with an average cost of 11.7 and 7.5 cents per kilowatt-hour, respectively. In contrast, onshore wind electricity generation cost an average of 3.3 cents per kilowatt-hour that year.
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Average renewable electricity generation cost worldwide in 2023, by energy source
(in U.S. cents per kilowatt-hour)
Characteristic
Electricity generation cost in U.S. cents per kilowatt-hour
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IRENA. (September 24, 2024). Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour) [Graph]. In Statista. Retrieved June 26, 2025, from https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA. "Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour)." Chart. September 24, 2024. Statista. Accessed June 26, 2025. https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA. (2024). Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour). Statista. Statista Inc.. Accessed: June 26, 2025. https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA. "Average Renewable Electricity Generation Cost Worldwide in 2023, by Energy Source (in U.S. Cents per Kilowatt-hour)." Statista, Statista Inc., 24 Sep 2024, https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
IRENA, Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour) Statista, https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/ (last visited June 26, 2025)
Average renewable electricity generation cost worldwide in 2023, by energy source (in U.S. cents per kilowatt-hour) [Graph], IRENA, September 24, 2024. [Online]. Available: https://www.statista.com/statistics/478049/global-utility-scale-electricity-generation-cost-by-resource/
