Learning curve effect on the global variable renewable energy deployment

The traditional electricity market in the world was dominated by fossil fuel technologies. Today renewable energy technologies, particularly VRE, are cheaper than fossil fuels in most countries of the world. The large-scale deployment of solar and wind generation in the past decade has led to a paradigm shift in the power system and electricity markets. How the deployment of VRE and other renewable energy technologies changes the dynamics of merit order and the marginal cost of electricity generation is present in this story. In this article, I discussed the trend of renewable energy and VRE from a global perspective.