How Is KR 2.2 Tracking?
Solar and wind power are already the cheapest sources of new-build electricity for two-thirds of the world, including the United States, China, India, Western Europe, and most of South America.
To achieve this key result, we need to make solar and wind cheaper everywhere. The top-emitting outliers are Russia, where natural gas remains the least expensive source, and also Turkey, Malaysia, and Indonesia, where coal is still the lowest-cost option.
Data for KR 2.2 is sourced from BloombergNEF, which bianually updates the levelized cost of electricity (LCOE), taking national averages from local and state variations.