13 July, 2020 Solar has become the lowest cost electricity source in more and more locations globally. According to the latest report by the International Renewable Energy Agency (IRENA), the levelized cost of energy (LCOE) generated by large scale solar plants is around $0.068 per kWh, compared to $0.378 per kWh ten years ago. Between 2018 and 2019 alone, the price dropped by 13.1 percent.