IRENA Report: Renewables Increasingly Beat Even Cheapest Coal Competitors on Cost

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Competitive power generation costs make investment in renewables highly attractive as countries target economic recovery from COVID-19, new IRENA report finds.

Renewable power is increasingly cheaper than any new electricity capacity based on fossil fuels, a new report by the International Renewable Energy Agency (IRENA) published today finds. Renewable Power Generation Costs in 2019 shows that more than half of the renewable capacity added in 2019 achieved lower power costs than the cheapest new coal plants.  The report highlights that new renewable power generation projects now increasingly undercut existing coal-fired plants. On average, new solar photovoltaic (PV)... ... More: Official Press Release IRENA

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IRENA, report, renwable energy, fossil fuel, coal, gas, wind, solar, power generation, capacity, economic recovery, COVID-19, gigawatts