Power Report
Middle East and Africa levelised cost of electricity (LCOE) 2026 - report
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Report summary
The Middle East and Africa holds the world's cheapest solar, now paired with battery storage that has displaced the gas peaker on cost. This 2026 update benchmarks levelised cost of electricity across Saudi Arabia, the United Arab Emirates, Egypt, Israel, Morocco, Oman and South Africa, with gas newly modelled for three markets. Regional average single-axis tracker solar will experience a roughly 35% cost decline over the next decade. Read this to see why solar and onshore wind post the steepest cost declines of any region, where four-hour storage now undercuts open-cycle gas, how subsidised Gulf gas still competes with storage, and what elevated risk premia mean for project economics.
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