Based on U.S. Energy Information Administration survey data for new, utility-scale electric generators (those with a capacity greater than one megawatt), capacity-weighted average construction costs for many generator types have fallen in recent years.
Construction costs alone do not determine the economic attractiveness of a generation technology. Other factors such as fuel costs, utilization rates, financial incentives and state policies also affect project economics and, in turn, the kinds of power plants that are built.
In 2015, wind, natural gas and solar were the most commonly added capacity types. In the case of wind and solar, almost all of these additions were at new plants, as opposed to new generators at existing plants.
For natural gas, about 60 percent of the capacity added in 2015 was new generators at new plants, and the remaining 40 percent was new generators at existing plants.
For more information, visit www.eia.gov or call (202) 586-8800.
