The dramatic declines in costs for renewable energy sources like solar and wind over the past decade have made them competitive alternatives for mining operations seeking to lower energy costs and increase sustainability. According to the International Renewable Energy Agency (IRENA), the global weighted average levelized cost of electricity (LCOE) for solar PV declined by 85% between 2010 and 2019. Onshore and offshore wind have seen LCOE declines of 49% and 35% respectively over the same period. These cost reductions make wind and solar financially attractive options compared to more expensive fossil fuel sources.
From the latest issue: The promise of renewables
From the latest issue: The promise of renewables
