{
 "built": "2026-11-14",
 "series": {
  "module_price": {
   "label": "Solar PV module price",
   "unit": "constant 2025 US$ per watt",
   "source": "Our World in Data, from IRENA (2025, 2026), Nemet (2009), Farmer and Lafond (2016)",
   "url": "https://ourworldindata.org/grapher/solar-pv-prices",
   "published": 2026,
   "data": [
    [
     1975,
     132.3757
    ],
    [
     1976,
     99.5976
    ],
    [
     1977,
     72.6611
    ],
    [
     1978,
     51.4082
    ],
    [
     1979,
     43.1951
    ],
    [
     1980,
     36.605
    ],
    [
     1981,
     29.2664
    ],
    [
     1982,
     26.2952
    ],
    [
     1983,
     21.2281
    ],
    [
     1984,
     19.725
    ],
    [
     1985,
     17.2204
    ],
    [
     1986,
     14.2447
    ],
    [
     1987,
     12.1104
    ],
    [
     1988,
     11.3116
    ],
    [
     1989,
     11.6901
    ],
    [
     1990,
     12.0911
    ],
    [
     1991,
     11.2008
    ],
    [
     1992,
     10.4351
    ],
    [
     1993,
     9.7587
    ],
    [
     1994,
     9.2315
    ],
    [
     1995,
     8.5355
    ],
    [
     1996,
     7.9798
    ],
    [
     1997,
     7.952
    ],
    [
     1998,
     7.1656
    ],
    [
     1999,
     6.6193
    ],
    [
     2000,
     6.4959
    ],
    [
     2001,
     6.2844
    ],
    [
     2002,
     5.7473
    ],
    [
     2003,
     5.4638
    ],
    [
     2004,
     4.6955
    ],
    [
     2005,
     4.7457
    ],
    [
     2006,
     5.1727
    ],
    [
     2007,
     5.2111
    ],
    [
     2008,
     4.7492
    ],
    [
     2009,
     3.1743
    ],
    [
     2010,
     2.5118
    ],
    [
     2011,
     2.0609
    ],
    [
     2012,
     1.1107
    ],
    [
     2013,
     0.8566
    ],
    [
     2014,
     0.7905
    ],
    [
     2015,
     0.7357
    ],
    [
     2016,
     0.6803
    ],
    [
     2017,
     0.5714
    ],
    [
     2018,
     0.5091
    ],
    [
     2019,
     0.4669
    ],
    [
     2020,
     0.3249
    ],
    [
     2021,
     0.3446
    ],
    [
     2022,
     0.3669
    ],
    [
     2023,
     0.2735
    ],
    [
     2024,
     0.1331
    ],
    [
     2025,
     0.1202
    ]
   ]
  },
  "irena_solar_lcoe": {
   "label": "Utility solar LCOE, global weighted average (IRENA)",
   "unit": "constant 2025 US$ per MWh",
   "source": "Our World in Data, from IRENA, Renewable Power Generation Costs in 2025",
   "url": "https://ourworldindata.org/grapher/levelized-cost-of-energy",
   "published": 2026,
   "data": [
    [
     2010,
     407.7
    ],
    [
     2011,
     343.8
    ],
    [
     2012,
     259.8
    ],
    [
     2013,
     202.6
    ],
    [
     2014,
     180.8
    ],
    [
     2015,
     133.7
    ],
    [
     2016,
     117.4
    ],
    [
     2017,
     93.6
    ],
    [
     2018,
     79.2
    ],
    [
     2019,
     68.5
    ],
    [
     2020,
     60.8
    ],
    [
     2021,
     54.3
    ],
    [
     2022,
     50.5
    ],
    [
     2023,
     42.6
    ],
    [
     2024,
     43.0
    ],
    [
     2025,
     43.5
    ]
   ],
   "note": "Worldwide figure; Lazard's figures are for the US."
  },
  "lazard_solar": {
   "label": "New utility solar (Lazard)",
   "unit": "US$ per MWh",
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v19.0), July 2026, p.13",
   "url": "https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf",
   "published": 2026,
   "data": [
    [
     2009,
     359
    ],
    [
     2010,
     248
    ],
    [
     2011,
     157
    ],
    [
     2012,
     125
    ],
    [
     2013,
     98
    ],
    [
     2014,
     79
    ],
    [
     2015,
     64
    ],
    [
     2016,
     55
    ],
    [
     2017,
     50
    ],
    [
     2018,
     43
    ],
    [
     2019,
     40
    ],
    [
     2020,
     37
    ],
    [
     2021,
     36
    ],
    [
     2023,
     60
    ],
    [
     2024,
     61
    ],
    [
     2025,
     58
    ],
    [
     2026,
     69
    ]
   ],
   "note": "Average of Lazard's unsubsidized low and high LCOE for new US plants; each edition in its own year's dollars. The x-axis year is the edition's year (v3.0 = 2009 ... v19.0 = 2026)."
  },
  "lazard_solar_low": {
   "label": "New utility solar, low end of range (Lazard)",
   "unit": "US$ per MWh",
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v19.0), July 2026, p.14",
   "url": "https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf",
   "published": 2026,
   "data": [
    [
     2009,
     323
    ],
    [
     2010,
     226
    ],
    [
     2011,
     148
    ],
    [
     2012,
     101
    ],
    [
     2013,
     91
    ],
    [
     2014,
     72
    ],
    [
     2015,
     58
    ],
    [
     2016,
     49
    ],
    [
     2017,
     46
    ],
    [
     2018,
     40
    ],
    [
     2019,
     36
    ],
    [
     2020,
     31
    ],
    [
     2021,
     30
    ],
    [
     2023,
     24
    ],
    [
     2024,
     29
    ],
    [
     2025,
     38
    ],
    [
     2026,
     40
    ]
   ]
  },
  "lazard_gas_cc": {
   "label": "New gas combined cycle (Lazard)",
   "unit": "US$ per MWh",
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v19.0), July 2026, p.13",
   "url": "https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf",
   "published": 2026,
   "data": [
    [
     2009,
     83
    ],
    [
     2010,
     82
    ],
    [
     2011,
     83
    ],
    [
     2012,
     75
    ],
    [
     2013,
     74
    ],
    [
     2014,
     74
    ],
    [
     2015,
     65
    ],
    [
     2016,
     63
    ],
    [
     2017,
     60
    ],
    [
     2018,
     58
    ],
    [
     2019,
     56
    ],
    [
     2020,
     59
    ],
    [
     2021,
     60
    ],
    [
     2023,
     70
    ],
    [
     2024,
     76
    ],
    [
     2025,
     78
    ],
    [
     2026,
     90
    ]
   ],
   "note": "Average of Lazard's unsubsidized low and high LCOE for new US plants; each edition in its own year's dollars. The x-axis year is the edition's year (v3.0 = 2009 ... v19.0 = 2026)."
  },
  "lazard_coal": {
   "label": "New coal (Lazard)",
   "unit": "US$ per MWh",
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v16.0), April 2023, p.9 (2009-2023); v17.0 p.9, v18.0 p.8, v19.0 p.7 (2024-2026)",
   "url": "https://www.lazard.com/media/2ozoovyg/lazards-lcoeplus-april-2023.pdf",
   "published": 2023,
   "data": [
    [
     2009,
     111
    ],
    [
     2010,
     111
    ],
    [
     2011,
     111
    ],
    [
     2012,
     102
    ],
    [
     2013,
     105
    ],
    [
     2014,
     109
    ],
    [
     2015,
     108
    ],
    [
     2016,
     102
    ],
    [
     2017,
     102
    ],
    [
     2018,
     102
    ],
    [
     2019,
     109
    ],
    [
     2020,
     112
    ],
    [
     2021,
     108
    ],
    [
     2023,
     117
    ],
    [
     2024,
     118.5
    ],
    [
     2025,
     122
    ],
    [
     2026,
     124.5
    ]
   ],
   "note": "Average of Lazard's unsubsidized low and high LCOE for new US plants; each edition in its own year's dollars. The x-axis year is the edition's year (v3.0 = 2009 ... v19.0 = 2026). 2024 to 2026 are midpoints of the published range."
  },
  "marginal_coal": {
   "label": "Running an existing coal plant (Lazard marginal cost)",
   "unit": "US$ per MWh",
   "source": "Lazard LCOE v12.0 to v19.0 (see marginal_sources)",
   "url": "https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf",
   "published": 2026,
   "data": [
    [
     2018,
     27,
     45,
     36
    ],
    [
     2019,
     26,
     41,
     33
    ],
    [
     2020,
     34,
     48,
     41
    ],
    [
     2021,
     37,
     47,
     42
    ],
    [
     2023,
     29,
     74,
     52
    ],
    [
     2024,
     28,
     113,
     71
    ],
    [
     2025,
     31,
     114,
     73
    ],
    [
     2026,
     34,
     69,
     51
    ]
   ],
   "note": "Rows are [year, low, high, midpoint]."
  },
  "marginal_gas_cc": {
   "label": "Running an existing gas plant (Lazard marginal cost)",
   "unit": "US$ per MWh",
   "source": "Lazard LCOE v12.0 to v19.0 (see marginal_sources)",
   "url": "https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf",
   "published": 2026,
   "data": [
    [
     2020,
     23,
     32,
     28
    ],
    [
     2021,
     19,
     29,
     24
    ],
    [
     2023,
     51,
     73,
     62
    ],
    [
     2024,
     23,
     37,
     30
    ],
    [
     2025,
     24,
     39,
     31
    ],
    [
     2026,
     32,
     51,
     42
    ]
   ],
   "note": "Rows are [year, low, high, midpoint]."
  },
  "battery_pack": {
   "label": "Lithium-ion battery pack price, volume-weighted average",
   "unit": "real 2025 US$ per kWh",
   "source": "BloombergNEF, 2025 Lithium-Ion Battery Price Survey (press release, 9 Dec 2025)",
   "url": "https://about.bnef.com/insights/clean-transport/lithium-ion-battery-pack-prices-fall-to-108-per-kilowatt-hour-despite-rising-metal-prices-bloombergnef/",
   "published": 2025,
   "data": [
    [
     2013,
     827
    ],
    [
     2014,
     734
    ],
    [
     2015,
     475
    ],
    [
     2016,
     365
    ],
    [
     2017,
     273
    ],
    [
     2018,
     224
    ],
    [
     2019,
     194
    ],
    [
     2020,
     169
    ],
    [
     2021,
     159
    ],
    [
     2022,
     170
    ],
    [
     2023,
     148
    ],
    [
     2024,
     118
    ],
    [
     2025,
     108
    ]
   ]
  },
  "battery_stationary": {
   "label": "Stationary-storage pack price",
   "unit": "US$ per kWh",
   "source": "BloombergNEF, 2025 Lithium-Ion Battery Price Survey (press release, 9 Dec 2025)",
   "url": "https://about.bnef.com/insights/clean-transport/lithium-ion-battery-pack-prices-fall-to-108-per-kilowatt-hour-despite-rising-metal-prices-bloombergnef/",
   "published": 2025,
   "data": [
    [
     2025,
     70
    ]
   ]
  }
 },
 "marginal_sources": [
  {
   "year": 2018,
   "source": "Lazard LCOE v12.0, Nov 2018, pp.2 and 6 (copy filed with the Missouri PSC)",
   "url": "https://efis.psc.mo.gov/Document/Display/13644"
  },
  {
   "year": 2019,
   "source": "Lazard LCOE v13.0, Nov 2019, pp.2 and 6 (copy filed with the UK Planning Inspectorate)",
   "url": "https://nsip-documents.planninginspectorate.gov.uk/published-documents/EN010080-003128-Appendix%2014,%20Annex%2009%20lazards-levelized-cost-of-energy-version-130-vf.pdf"
  },
  {
   "year": 2020,
   "source": "Lazard LCOE v14.0, Oct 2020, pp.2 and 7 (mirror)",
   "url": "https://www.reteclima.it/wp-content/uploads/LAZARD-cost-of-energy-report.pdf"
  },
  {
   "year": 2021,
   "source": "Lazard LCOE v15.0, Oct 2021, pp.2 and 7 (mirror)",
   "url": "https://www.3e-news.net/web/files/articles/27413/pdf_file/lazards-levelized-cost-of-energy-version-150-vf.pdf"
  },
  {
   "year": 2023,
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v16.0), April 2023, p.7",
   "url": "https://www.lazard.com/media/2ozoovyg/lazards-lcoeplus-april-2023.pdf"
  },
  {
   "year": 2024,
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v17.0), June 2024, pp.9 and 14",
   "url": "https://www.lazard.com/media/xemfey0k/lazards-lcoeplus-june-2024-_vf.pdf"
  },
  {
   "year": 2025,
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v18.0), June 2025, pp.8 and 13",
   "url": "https://www.lazard.com/media/5tlbhyla/lazards-lcoeplus-june-2025-_vf.pdf"
  },
  {
   "year": 2026,
   "source": "Lazard, Levelized Cost of Energy+ (LCOE v19.0), July 2026, pp.7 and 12",
   "url": "https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf"
  }
 ],
 "not_included": [
  "Running cost of existing plants before 2018: Lazard's v11.0 (2017) and earlier editions have no marginal-cost page. Running cost of existing gas plants for 2018 and 2019: those editions show coal and nuclear only. Lazard published no edition in 2022.",
  "BNEF pack prices before 2013: the survey chart in real 2025 dollars starts in 2013; earlier figures exist only in other years' dollars, so they are left out rather than mixed.",
  "A worldwide fossil LCOE time series: IRENA publishes only a fossil cost range for the latest year, so new-build fossil costs here are Lazard's US figures.",
  "Firmed solar (solar plus storage) LCOE history: Lazard publishes it only for recent editions; the battery pack price stands in for it."
 ]
}