NYSE:LAZ 16 September 2025 - 8 December 2025

What is the cheapest form of energy today? It’s a complex question fueled by falling renewable costs, volatile fossil fuel prices, and urgent climate concerns. To cut through the noise, analysts often turn to the Levelized Cost of Energy – a metric that compares the all-in lifetime cost of different power sources. LCOE represents the price a generator must receive per unit of electricity to cover its construction, financing, and operating costs over its lifespan cbsnews.com. In essence, it’s a “apples-to-apples” benchmark of what it costs to produce a megawatt-hour of electricity from solar panels, wind turbines, coal plants, nuclear reactors, and more. Investment firm Lazard publishes one of the most widely cited LCOE analyses each year. Lazard’s 2025 LCOE+ report – as referenced in a recent CBS News investigation – paints a clear picture: renewable energy has taken the lead as the most cost-competitive form of power generation cbsnews.com. But raw cost is only part of the story. As experts told CBS, determining “the cheapest” energy source also means looking at reliability, scalability, and environmental impact cbsnews.com cbsnews.com. This report dives into Lazard’s latest findings and beyond, comparing major energy sources on cost, trends, and real-world considerations. We’ll also