What is the cheapest power to generate?

Solar power is generally the cheapest source of electricity to generate today, particularly large-scale solar photovoltaic (PV) power plants.

However, the answer depends on whether you mean generating electricity on a large scale or producing power for your own home.

1. Worldwide

Onshore wind is generally the cheapest new electricity generation technology globally, closely followed by solar PV.

2. United Kingdom

In the UK, the most competitive new electricity generation sources are generally:

1. Onshore wind – among the cheapest sources of new electricity.
2. Large-scale solar PV – increasingly inexpensive.
3. Offshore wind – more expensive than onshore wind and solar, but an important UK energy source.
4. Nuclear – high construction costs and long development times.
5. Gas-fired power – fuel costs make generation more expensive and volatile.

Final verdict

• Cheapest worldwide: Onshore wind.
• Cheapest in the UK: Onshore wind and large-scale solar are generally the leading low-cost options.
• Best long-term combination: Solar + onshore wind + energy storage.

Important: These comparisons concern the cost of generating electricity, not the final price consumers pay. Storage, grid connections, backup capacity and financing can change the overall economics.