For example, the LCOE of solar PV dropped by 50% between 2010 and 2014, which has made it increasingly competitive at the utility scale (IRENA 2015). Total installed costs of utility-scale PV fell by 29% to 65% (depending on location) in that same time period, resulting in electricity prices of US$0.08 per kWh (without financial incentives) for the most competitive utility-scale projects (see Section 2 for more detail). While LCOE is only one metric used for investment decisions that must account for resource diversification, regulation and policy goals, as well as market design and dispatch decisions, the comparative cost of electricity generated from new fossil fuel power plants typically ranges from US$0.045 to US$0.14 per kWh (without incentives). As the least cost source of electricity available today, onshore wind LCOEs fall either within the range or lower than for fossil fuels, where the most competitive wind projects globally deliver electricity for roughly US$0.05/kWh without financial incentives (IRENA 2015; see Section 2 for more detail).7