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Renewable Energy Technology Cost Review

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Patrick Hearps, Dylan McConnell
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This paper reviews the current and future costs of three renewable energy (RE) technologies by comparing data from several international and Australia-specific sources. The purpose of the study was to compare the absolute costs and rate of decrease in costs of three RE technologies: solar photovoltaic (PV), concentrating solar thermal (CST), and wind. Additionally, the authors sought to understand the differences between the sources they used. Levelized cost of energy (LCOE) was used as the primary metric to compare the cost outlooks for the three RE technologies.