Australia’s national science agency, the CSIRO, has today released the GenCost 2025–26 Final Report. GenCost is an annual assessment of electricity generation, storage and hydrogen technology costs.
Now in its eighth year, GenCost provides independent analysis of current and projected technology costs to support long-term planning and investment across Australia's evolving electricity system.
AEMO Executive General Manager System Design, Nicola Falcon, said the report continued to provide trusted evidence to inform Australia's energy transition.
"GenCost continues to be a respected example of collaboration between CSIRO and AEMO, providing trusted, independent insights that support planning for Australia's future electricity system."
The report finds renewable generation supported by storage continues to represent the lowest-cost investment pathway for Australia's future electricity system under a net zero emissions scenario. Falling battery costs and increasing storage capacity are expected to continue reshaping electricity markets over the coming years, while rising global demand for gas turbines has contributed to higher costs for new gas-fired generation technologies.
The report reflects extensive consultation with industry and incorporates the latest market information, technology cost projections and modelling improvements to support transparent, evidence-based planning.
The GenCost 2025–26 Final Report is available to download from CSIRO’s website.
ENDS