The cost of renewable energy fell be record amounts last year, according to a new report by the International Renewable Energy Agency (IRENA).
In most parts of the world today, renewables are the lowest-cost source of new power generation. As costs for solar and wind technologies continue falling, this will become the case in even more countries.
IRENA said in the ‘Renewable Power Generation Costs in 2018’ report that the global weighted-average cost of electricity from concentrating solar power declined by 26%, bioenergy by 14%, solar photovoltaics and onshore wind by 13%, hydropower by 12% and geothermal and offshore wind by 1%.
It added that cost reductions, particularly for solar and wind, are set to continue into the next decade.
Read the full article here or check out IRENA’s report here.
