Governance & Policy
Renewable Energy Auction
Competitive bidding in which developers name the price at which they will build renewable capacity — now the dominant way governments procure it.
Definition
A renewable energy auction is a competitive procurement process in which the state or a utility invites developers to bid for contracts to build renewable generation, awarding support to the lowest-priced qualifying offers. Auctions largely replaced administratively set feed-in tariffs after 2015, driving steep price discovery: solar and wind auction results in many countries undercut new fossil generation.
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