BloombergNEF, a New York-based research provider covering global energy markets, has released the Levelized Cost of Electricity 2026 report analysing benchmark cost movements during 2025. The BloombergNEF study has reported that global benchmark costs for a four-hour battery system fell 27% year-on-year to $78/MWh, the lowest level recorded since 2009. Developers added 87 GWs of combined PV and storage delivering electricity at an average $57/MWh, while fixed-axis PV benchmark costs rose 6% to $39/MWh globally. According to BloombergNEF analysis, onshore wind reached $40/MWh and offshore wind increased to $100/MWh, reflecting supply-chain constraints, resource availability shifts and mainland China reforms. The benchmark cost for combined-cycle gas turbines has climbed 16% to $102/MWh due to elevated equipment prices and stronger demand associated with data-center expansion. The report anticipates that by 2035, LCOE will decline 30% for PV, 25% for battery storage, 23% for onshore wind and 20% for offshore wind.