Renewable power is increasingly cheaper than any new electricity capacity based on fossil fuels, IRENA report finds

Renewable power is increasingly cheaper than any new electricity capacity based on fossil fuels, 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.. Since 2010, utility-scale solar PV power has shown the sharpest cost decline at 82 percent, followed by concentrating solar power, CSP, at 47 percent, onshore wind at 39 percent and offshore wind at 29 percent.. IRENA's annual report also looks at investment value in relation to falling generation costs..