Solar photovoltaic projects costing as much as 57 percent less by 2025 than they did last year (The Daily Star/Mohammad Azakir)
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The cost of renewables technology is set to keep falling into the next decade, boosting the economic case for clean energy, according to an industry group.The average cost of electricity from a photovoltaic system is forecast to plunge as much as 59 percent by 2025, according to a report Wednesday by the International Renewable Energy Agency. The technology last year produced energy that was already 58 percent cheaper than it was in 2010, the Abu Dhabi-based industry group said.Irena projects that energy from solar thermal power plants will be about 40 percent cheaper by the middle of the next decade. Offshore wind may see cost reductions of 35 percent, followed by onshore wind at 26 percent.
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