New IRENA report on renewables costs

Wind Industry Profile of

Countries urged to power past coal as new report confirms renewables would bring cost savings of USD 156 billion to emerging economies.

The share of renewable energy that achieved lower costs than the most competitive fossil fuel option doubled in 2020, a new report by the International Renewable Energy Agency (IRENA) shows. 162 gigawatts (GW) or 62 per cent of total renewable power generation added last year had lower costs than the cheapest new fossil fuel option. Renewable Power Generation Costs in 2020 shows that costs for renewable technologies continued to fall significantly year-on-year. Concentrating solar power (CSP) fell by 16 per cent, onshore wind by 13 per... ... More: Official Press Release IRENA

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IRENA, report, renewable energy, costs, reduction, emerging economy, fossil fuel, solar pv, wind, utility scale, capacity, kWh