Changes in equipment costs, interest rates, and power prices have resulted in a large shift in PPA prices globally in recent years. On the cost side, breakeven prices for solar PV and onshore wind have seen very different trajectories in recent years, with global average onshore wind increasing and solar PV decreasing. We see global solar costs stabilizing within a fairly narrow range over the next five years, while wind costs are likely to push higher and have more variation around the world. But costs are just one part of the equation. Wind projects…

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