Solar photovoltaic (PV) and batteries are consolidating their cost advantages as other power generation technologies are hit by renewed inflationary pressures, triggered by Mideast hostilities and surging US power demand. Most power generation technologies — including gas turbines, nuclear, wind, and carbon capture and storage (CCS) — have now hit records for upfront investment costs, exceeding earlier highs hit a few years ago with high inflation and supply chain pressures. In terms of lifetime generating costs, known as the levelized cost of energy (LCOE), solar power is now one of the cheapest technologies in all regions, although gas still has the lead in the US and onshore wind in Europe. Analysis of Energy Intelligence's proprietary LCOE data is published twice annually. This report focuses on regional data, while the other, published at the start of each year, offers projections to 2050.