Unsubsidized solar power costs are beginning to outperform coal and natural gas and new solar energy projects in emerging markets cost less to build than wind turbines, according to a new report from Bloomberg New Energy Finance (BNEF).

The study, which includes the average cost of new wind and solar from 58 emerging-market economies, including China, India, and Brazil, determined that even though the cost of solar had been expected to eventually fall below wind, steeper price declines spurred that to happen far faster than analysts thought possible.

Steep solar equipment cost drops are driving growth in new solar installations, BNEF's latest edition of Climatescope concluded; investment in utility-scale solar in the 58 emerging nations rose 43% to $71.8 (billion) in 2015.

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