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The key insight from this 2020 edition is that the levelised costs of electricity generation of low- carbon generation technologies are falling and are increasingly below the costs of conventional fossil fuel generation. Renewable energy costs have continued to decrease in recent years. With the assumed moderate emission costs of USD 30/tCO2 their costs are now competitive, in LCOE terms, with dispatchable fossil fuel-based electricity generation in many countries.2 In particular, this report shows that onshore wind is expected to have, on average, the lowest levelised costs of electricity generation in 2025. Although costs vary strongly from country to country, this is true for a majority of countries (10 out of 14). Also solar PV, if deployed at large scales and under favourable climatic conditions, can be very cost competitive....Nuclear thus remains the dispatchable low-carbon technology with the lowest expected costs in 2025. Only large hydro reservoirs can provide a similar contribution at comparable costs but remain highly dependent on the natural endowments of individual countries.