Bringing climate policy up to date – decreasing cost projections for renewable energy and batteries and their implications

A range of studies on nationally determined contributions (NDC) of parties to the Paris Agreement disclose, that temperature objectives of the Paris Agreement are not in reach if current NDCs are implemented. A new study, commissioned by German Environment Agency, compares pre2015 and latest levelized cost projections and shows, that certain key mitigation technologies, i.e. power generation from renewables and lithium batteries, will become substantially cheaper by 2025/2030 since the preparation of NDCs. Thus, parties to the Paris Agreement are now in the position to review and strengthen their NDCs by 2020 during the Talanoa Dialog.