The reason for this growth is attributable not only to subsidies, but also the competitive cost structure achieved in recent years. Assuming favourable resource conditions, all major renewable electricity generation technologies (solar PV, onshore and offshore wind, and hydro power) have levelled costs of electricity below current average power prices. However, this differs for newly built coal fired or nuclear power plants, which are significantly more expensive than current power prices. This is an encouraging starting point and good news for the renewable energy sector. However, the recent flattening of the growth curve raises questions about the attractiveness of renewable investments.

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