Many renewable power generation technologies are now cost competitive with fossil fuels, according to a new report by Lloyd’s Register.
The Lloyd’s Register ‘Technology Radar – Low Carbon’, published today, examines the outlook for renewables, nuclear, grid and infrastructure and energy storage.
The research sought the insights and opinions of leaders across the sector, as well as the views of almost 600 professionals and experts around the world.
It found that 70% of renewables respondents felt the sector is reaching cost parity with fossil fuels.
Deployment of renewables remains an issue that could be helped by regional and global consensus on regulations, the report found.
Lloyd’s Register energy director Alasdair Buchanan said: “We are very encouraged by the findings, which highlight not only a growing optimism across the industry but a vigorous and intelligent debate about the pathways to decarbonisation.”
Image: Morgue File
