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Among renewable sources, geothermal rivals hydropower in lifetime cost
As of 2024, the levelized cost of energy—the average cost per unit of energy over the lifetime of a power plant—for geothermal power is surpassed only by solar photovoltaic and onshore wind. Geothermal's LCOE has remained relatively unchanged since 2007, with significant decreases held back by significant upfront installation costs.
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