Solar and wind are already the cheapest technologies for new capacity in most markets. Their role is now being reinforced by a rapid fall in battery costs, which will make their intermittency increasingly manageable, according to Energy Intelligence's updated Energy Cost Report based on proprietary levelized cost of energy (LCOE) data. This will support global efforts to electrify and decarbonize the power sector, but challenges remain. While inflationary pressures have eased from the recent peak, some supply chain issues and geopolitical risks look set to continue — slowing the rate of cost declines for renewable power in the coming years and decades. This report is compiled by Energy Intelligence Senior Reporter Philippe Roos.